Cutera, Inc. (NASDAQ:CUTR) Stake Raised by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Cutera, Inc. (NASDAQ:CUTR) by 38.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,559 shares of the medical device company’s stock after acquiring an additional 41,500 shares during the quarter. Federated Hermes Inc. owned approximately 0.75% of Cutera worth $524,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CUTR. Fox Run Management L.L.C. boosted its holdings in shares of Cutera by 43.8% during the third quarter. Fox Run Management L.L.C. now owns 15,130 shares of the medical device company’s stock worth $91,000 after purchasing an additional 4,607 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Cutera by 0.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,144,646 shares of the medical device company’s stock valued at $6,891,000 after buying an additional 7,040 shares during the period. Essex Investment Management Co. LLC grew its holdings in shares of Cutera by 248.7% during the 3rd quarter. Essex Investment Management Co. LLC now owns 503,939 shares of the medical device company’s stock valued at $3,034,000 after acquiring an additional 359,401 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Cutera by 75.6% in the third quarter. PNC Financial Services Group Inc. now owns 22,000 shares of the medical device company’s stock worth $132,000 after acquiring an additional 9,472 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Cutera during the third quarter valued at $180,000. Institutional investors and hedge funds own 90.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CUTR shares. Stephens reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Cutera in a research report on Friday, March 22nd. William Blair upgraded Cutera from an “underperform” rating to a “market perform” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Cutera has a consensus rating of “Hold” and an average target price of $14.75.

Cutera Price Performance

Cutera stock opened at $2.53 on Friday. Cutera, Inc. has a one year low of $1.28 and a one year high of $21.47. The company’s fifty day moving average price is $1.98 and its two-hundred day moving average price is $2.56. The company has a market capitalization of $50.45 million, a price-to-earnings ratio of -0.34 and a beta of 1.43.

Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Thursday, March 21st. The medical device company reported ($2.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($1.07). The firm had revenue of $49.54 million during the quarter, compared to analyst estimates of $49.10 million. As a group, sell-side analysts anticipate that Cutera, Inc. will post -5.88 earnings per share for the current year.

Cutera Profile

Cutera, Inc provides aesthetic and dermatology solutions for medical practitioners worldwide. It develops, manufactures, and markets energy-based product platforms for medical practitioners; and distributes third-party manufactured skincare products. The company provides AviClear for the treatment of mild, moderate, and severe inflammatory acne vulgaris; Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truFlex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; and excel V+, a vascular and benign pigmented lesion treatment platform.