Cutera, Inc. (CUTR) Receives Average Rating of “Buy” from Analysts
Shares of Cutera, Inc. (NASDAQ:CUTR) have received an average recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $39.50.
CUTR has been the subject of a number of analyst reports. Roth Capital lifted their price objective on Cutera from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, September 12th. BidaskClub cut Cutera from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Gabelli reaffirmed a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th. Maxim Group reaffirmed a “buy” rating and set a $33.00 price objective (up from $27.00) on shares of Cutera in a research note on Thursday, July 13th. Finally, TheStreet raised Cutera from a “c” rating to a “b” rating in a research note on Friday, August 18th.
In other Cutera news, CFO Ronald J. Santilli sold 5,775 shares of Cutera stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $40.43, for a total transaction of $233,483.25. Following the transaction, the chief financial officer now directly owns 50,012 shares in the company, valued at $2,021,985.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ronald J. Santilli sold 12,000 shares of Cutera stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $34.00, for a total value of $408,000.00. Following the transaction, the chief financial officer now owns 75,253 shares in the company, valued at $2,558,602. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,809 shares of company stock worth $2,182,510. Corporate insiders own 11.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. American International Group Inc. lifted its holdings in Cutera by 7.0% during the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock worth $149,000 after acquiring an additional 475 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in Cutera by 8.4% during the second quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock worth $187,000 after acquiring an additional 561 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in Cutera during the first quarter worth about $202,000. Cubist Systematic Strategies LLC bought a new position in Cutera during the second quarter worth about $225,000. Finally, PNC Financial Services Group Inc. bought a new position in Cutera during the second quarter worth about $241,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.
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Shares of Cutera (NASDAQ CUTR) opened at 37.60 on Friday. The stock’s 50 day moving average price is $40.46 and its 200 day moving average price is $28.85. Cutera has a one year low of $12.45 and a one year high of $44.40. The stock has a market capitalization of $526.59 million, a P/E ratio of 80.86 and a beta of 0.53.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, topping 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 business had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $32.08 million. During the same period in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, analysts forecast that Cutera will post $0.52 EPS for the current year.
Cutera declared that its board has authorized a stock buyback program on Monday, August 7th that allows the company to buyback $25.00 million in outstanding 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 typically an indication that the company’s management believes its stock is undervalued.
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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