Cutera, Inc. (CUTR) Lifted to “Buy” at BidaskClub
Cutera, Inc. (NASDAQ:CUTR) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
CUTR has been the subject of a number of other research reports. Roth Capital increased their target price on Cutera from $32.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday. Sidoti restated a “buy” rating and issued a $30.00 target price (up previously from $27.00) on shares of Cutera in a report on Saturday, June 3rd. Zacks Investment Research lowered Cutera from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. TheStreet lowered Cutera from a “b-” rating to a “c” rating in a report on Monday, May 1st. Finally, Maxim Group restated a “buy” rating and issued a $33.00 target price (up previously from $27.00) on shares of Cutera in a report on Thursday, July 13th. Six analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $33.25.
Shares of Cutera (CUTR) opened at 34.10 on Friday. The stock has a 50 day moving average price of $27.16 and a 200-day moving average price of $22.41. The stock has a market cap of $477.57 million, a P/E ratio of 73.33 and a beta of 0.60. Cutera has a 12 month low of $10.54 and a 12 month high of $34.91.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Cutera had a return on equity of 11.64% and a net margin of 5.07%. The company had revenue of $36.40 million during the quarter, compared to the consensus estimate of $32.08 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, analysts forecast that Cutera will post $0.55 EPS for the current fiscal year.
Cutera announced that its board has initiated a share buyback plan on Monday, August 7th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the medical device company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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In other news, CFO Ronald J. Santilli sold 3,857 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $22.95, for a total value of $88,518.15. Following the completion of the sale, the chief financial officer now owns 88,321 shares in the company, valued at $2,026,966.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Gollnick sold 10,000 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $25.08, for a total value of $250,800.00. Following the completion of the sale, the director now owns 26,641 shares of the company’s stock, valued at approximately $668,156.28. The disclosure for this sale can be found here. Insiders sold 64,563 shares of company stock valued at $1,485,360 in the last 90 days. Corporate insiders own 11.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CUTR. American International Group Inc. increased its position in Cutera by 7.0% in the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock worth $149,000 after buying an additional 475 shares during the period. Nationwide Fund Advisors increased its position in Cutera by 8.4% in the second quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock worth $187,000 after buying an additional 561 shares during the period. Metropolitan Life Insurance Co. NY bought a new position in Cutera during the first quarter worth $202,000. PNC Financial Services Group Inc. bought a new position in Cutera during the second quarter worth $241,000. Finally, Citadel Advisors LLC bought a new position in Cutera during the second quarter worth $245,000. Institutional investors own 82.87% 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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