Cutera, Inc. (CUTR) Downgraded by Zacks Investment Research
Cutera, Inc. (NASDAQ:CUTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “
A number of other analysts also recently issued reports on CUTR. Roth Capital initiated coverage on Cutera in a research report on Monday, June 26th. They issued a “buy” rating and a $32.00 price target for the company. Sidoti restated a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Cutera in a research report on Friday, July 7th. BidaskClub upgraded Cutera from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Maxim Group restated a “buy” rating and issued a $33.00 price target (up from $27.00) on shares of Cutera in a research report on Thursday, July 13th. Finally, Gabelli restated a “buy” rating on shares of Cutera in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $37.33.
Shares of Cutera (CUTR) traded down 0.46% during midday trading on Tuesday, hitting $43.40. 109,842 shares of the stock were exchanged. Cutera has a 52-week low of $12.45 and a 52-week high of $44.40. The firm’s 50-day moving average is $39.44 and its 200 day moving average is $27.95. The firm has a market cap of $607.82 million, a PE ratio of 93.33 and a beta of 0.53.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $36.40 million during the quarter, compared to the consensus estimate of $32.08 million. Cutera had a return on equity of 11.64% and a net margin of 5.07%. Cutera’s revenue was up 32.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, analysts forecast that Cutera will post $0.52 earnings per share for the current year.
Cutera announced that its board has authorized a stock repurchase program on Monday, August 7th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the medical device company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
In other news, EVP Ronald J. Santilli sold 1,068 shares of Cutera stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $33.20, for a total transaction of $35,457.60. Following the completion of the sale, the executive vice president now directly owns 87,253 shares in the company, valued at $2,896,799.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Apfelberg sold 1,000 shares of Cutera stock in a transaction on Monday, September 18th. The stock was sold at an average price of $38.45, for a total value of $38,450.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,309 shares of company stock valued at $1,965,520. Corporate insiders own 3.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of Cutera by 0.8% during the second quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock worth $31,456,000 after purchasing an additional 9,100 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Cutera by 3.7% during the second quarter. Gamco Investors INC. ET AL now owns 576,363 shares of the medical device company’s stock worth $14,928,000 after purchasing an additional 20,363 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Cutera by 3.4% during the second quarter. Vanguard Group Inc. now owns 570,948 shares of the medical device company’s stock worth $14,788,000 after purchasing an additional 18,549 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Cutera during the second quarter worth $9,426,000. Finally, Teton Advisors Inc. lifted its position in shares of Cutera by 6.7% during the second quarter. Teton Advisors Inc. now owns 319,000 shares of the medical device company’s stock worth $8,262,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.
Cutera Company Profile
Cutera, Inc is a medical device company. The Company is engaged in the design, development, manufacture, marketing and servicing of laser and other energy-based aesthetics systems for practitioners across the world. The Company offers products based on product platforms, such as enlighten, excel HR, truSculpt, excel V and xeo, each of which enables physicians and other practitioners to perform aesthetic procedures for customers.
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