Short Interest in Cutera, Inc. (CUTR) Grows By 33.4%
Cutera, Inc. (NASDAQ:CUTR) saw a large increase in short interest in the month of December. As of December 29th, there was short interest totalling 681,844 shares, an increase of 33.4% from the December 15th total of 511,315 shares. Based on an average daily trading volume, of 212,563 shares, the days-to-cover ratio is currently 3.2 days. Currently, 5.1% of the company’s shares are short sold.
Cutera (NASDAQ CUTR) opened at $50.35 on Friday. The stock has a market cap of $683.74, a P/E ratio of 64.55, a P/E/G ratio of 1.47 and a beta of 0.52. Cutera has a 1-year low of $18.00 and a 1-year high of $50.50.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Tuesday, November 7th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.34. The firm had revenue of $38.17 million during the quarter, compared to analysts’ expectations of $34.82 million. Cutera had a net margin of 7.99% and a return on equity of 18.73%. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 earnings per share. equities research analysts forecast that Cutera will post 0.55 earnings per share for the current fiscal year.
In other news, Director Timothy J. Oshea sold 4,000 shares of Cutera stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $39.21, for a total transaction of $156,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Apfelberg sold 1,000 shares of Cutera stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $39.90, for a total transaction of $39,900.00. Following the sale, the director now owns 10,259 shares of the company’s stock, valued at approximately $409,334.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,968 shares of company stock valued at $1,676,086. 11.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CUTR. Parallel Advisors LLC bought a new position in Cutera in the third quarter valued at approximately $117,000. Argent Capital Management LLC bought a new position in Cutera in the third quarter valued at approximately $1,320,000. Cornerstone Capital Management Holdings LLC. lifted its stake in Cutera by 76.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 85,700 shares of the medical device company’s stock valued at $3,542,000 after buying an additional 37,000 shares in the last quarter. PEAK6 Investments L.P. lifted its stake in Cutera by 533.0% in the third quarter. PEAK6 Investments L.P. now owns 64,895 shares of the medical device company’s stock valued at $2,683,000 after buying an additional 54,643 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in Cutera in the third quarter valued at approximately $277,000. Hedge funds and other institutional investors own 87.64% of the company’s stock.
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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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