Cutera (CUTR) Rating Increased to Buy at BidaskClub
Cutera (NASDAQ:CUTR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
Other analysts also recently issued reports about the company. TheStreet raised Cutera from a “c” rating to a “b” rating in a research report on Friday, August 18th. Roth Capital raised their target price on Cutera from $41.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, September 12th. Maxim Group restated a “hold” rating on shares of Cutera in a report on Wednesday, November 8th. Finally, Zacks Investment Research cut Cutera from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Cutera currently has a consensus rating of “Buy” and an average price target of $37.33.
Shares of Cutera (NASDAQ CUTR) traded up $1.50 during trading hours on Tuesday, hitting $48.50. The company had a trading volume of 475,800 shares, compared to its average volume of 151,267. The firm has a market cap of $651.18, a P/E ratio of 60.26, a price-to-earnings-growth ratio of 2.03 and a beta of 0.53. Cutera has a 1 year low of $16.55 and a 1 year high of $48.95.
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, topping analysts’ consensus estimates of $0.08 by $0.34. The firm had revenue of $38.17 million during the quarter, compared to the consensus estimate of $34.82 million. Cutera had a return on equity of 18.73% and a net margin of 7.99%. The company’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. equities analysts predict that Cutera will post 0.55 earnings per share for the current fiscal year.
In other news, EVP Larry Laber sold 1,250 shares of Cutera stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.30, for a total value of $55,375.00. Following the completion of the transaction, the executive vice president now owns 70,463 shares in the company, valued at approximately $3,121,510.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David B. Apfelberg sold 1,000 shares of Cutera stock in a transaction dated Monday, September 18th. The shares were 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. Insiders have sold a total of 14,950 shares of company stock valued at $609,770 over the last 90 days. 11.60% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in shares of Cutera by 1.3% in the 2nd quarter. California State Teachers Retirement System now owns 23,405 shares of the medical device company’s stock valued at $606,000 after buying an additional 300 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Cutera by 8.4% in the 2nd quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock valued at $187,000 after buying an additional 561 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Cutera by 12.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,479 shares of the medical device company’s stock valued at $297,000 after buying an additional 1,230 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Cutera by 2.5% in the 2nd quarter. Federated Investors Inc. PA now owns 58,415 shares of the medical device company’s stock valued at $1,513,000 after buying an additional 1,427 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Cutera by 69.6% in the 3rd quarter. Legal & General Group Plc now owns 3,600 shares of the medical device company’s stock valued at $149,000 after buying an additional 1,477 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.
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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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