Insider Selling: Cutera, Inc. (CUTR) EVP Sells 1,068 Shares of Stock
Cutera, Inc. (NASDAQ:CUTR) EVP Ronald J. Santilli sold 1,068 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $33.20, for a total transaction of $35,457.60. Following the completion of the transaction, the executive vice president now directly owns 87,253 shares in the company, valued at $2,896,799.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Cutera, Inc. (NASDAQ CUTR) traded up 2.41% on Wednesday, reaching $34.00. 215,897 shares of the company’s stock traded hands. The company’s 50 day moving average is $27.89 and its 200-day moving average is $22.77. Cutera, Inc. has a 52-week low of $10.54 and a 52-week high of $34.91. The stock has a market cap of $476.17 million, a price-to-earnings ratio of 73.12 and a beta of 0.60.
Cutera (NASDAQ:CUTR) last released its earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. The firm had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $32.08 million. Cutera had a net margin of 5.35% and a return on equity of 13.05%. The company’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share. Equities analysts expect that Cutera, Inc. will post $0.52 EPS for the current year.
Cutera declared that its board has authorized a share buyback plan on Monday, August 7th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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Several research analysts have weighed in on CUTR shares. BidaskClub cut shares of Cutera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Gabelli reissued a “buy” rating on shares of Cutera in a report on Wednesday, August 9th. Maxim Group reissued a “buy” rating and issued a $33.00 price target (up from $27.00) on shares of Cutera in a report on Thursday, July 13th. Zacks Investment Research raised shares of Cutera from a “sell” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, June 20th. Finally, Sidoti reissued a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Cutera in a report on Friday, July 7th. Six research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $33.25.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Cutera by 0.8% in the second quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock worth $31,456,000 after buying an additional 9,100 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Cutera by 3.7% in the second quarter. Gamco Investors INC. ET AL now owns 576,363 shares of the medical device company’s stock worth $14,928,000 after buying an additional 20,363 shares during the last quarter. Vanguard Group Inc. boosted its position in Cutera by 3.4% in the second quarter. Vanguard Group Inc. now owns 570,948 shares of the medical device company’s stock worth $14,788,000 after buying an additional 18,549 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in Cutera during the second quarter worth $9,426,000. Finally, Teton Advisors Inc. boosted its position in Cutera by 6.7% in the second quarter. Teton Advisors Inc. now owns 319,000 shares of the medical device company’s stock worth $8,262,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 84.44% 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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