Insider Selling: Cutera, Inc. (CUTR) Director Sells $164,000.00 in Stock
Cutera, Inc. (NASDAQ:CUTR) Director Timothy J. Oshea sold 4,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $41.00, for a total value of $164,000.00. Following the transaction, the director now directly owns 36,467 shares in the company, valued at $1,495,147. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Cutera, Inc. (NASDAQ:CUTR) opened at $42.45 on Friday. Cutera, Inc. has a 12 month low of $13.70 and a 12 month high of $44.40. The stock has a market capitalization of $576.37, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 1.73 and a beta of 0.49.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Tuesday, November 7th. The medical device company reported $0.42 earnings per share 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 analyst estimates of $34.82 million. Cutera had a return on equity of 18.73% and a net margin of 7.99%. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 earnings per share. analysts expect that Cutera, Inc. will post 0.55 earnings per share for the current year.
Cutera declared that its board has approved a stock buyback program on Monday, August 7th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the medical device company to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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Several equities analysts have recently weighed in on the company. Maxim Group reissued a “hold” rating on shares of Cutera in a report on Wednesday. BidaskClub raised Cutera from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. TheStreet raised Cutera from a “c” rating to a “b” rating in a report on Friday, August 18th. Roth Capital raised their target price on Cutera from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, Gabelli reaffirmed a “buy” rating on shares of Cutera in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.33.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in Cutera by 69.6% in the third quarter. Legal & General Group Plc now owns 3,600 shares of the medical device company’s stock worth $149,000 after acquiring an additional 1,477 shares in the last quarter. Greenwood Capital Associates LLC purchased a new position in Cutera in the third quarter worth about $210,000. Dynamic Technology Lab Private Ltd purchased a new position in Cutera in the third quarter worth about $264,000. Nationwide Fund Advisors grew 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 acquiring an additional 561 shares in the last quarter. Finally, American International Group Inc. grew 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 acquiring an additional 475 shares in the last quarter. Institutional investors own 88.72% of the company’s stock.
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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