Cutera (NASDAQ:CUTR) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cutera (NASDAQ:CUTR) from a sell rating to a hold rating in a research note issued to investors on Tuesday, January 9th.

According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “

Several other analysts have also commented on CUTR. Roth Capital raised their target price on Cutera from $41.00 to $47.00 and gave the stock a buy rating in a report on Tuesday, September 12th. Maxim Group downgraded Cutera from a buy rating to a hold rating in a research report on Thursday, September 14th. Finally, BidaskClub upgraded Cutera from a hold rating to a buy rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $37.33.

Cutera (CUTR) traded up $1.55 during trading on Tuesday, reaching $51.10. The company had a trading volume of 151,198 shares, compared to its average volume of 173,240. The firm has a market capitalization of $686.51, a price-to-earnings ratio of 65.51, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Cutera has a 12-month low of $18.00 and a 12-month high of $52.90.

Cutera (NASDAQ:CUTR) last posted its earnings results on Tuesday, November 7th. The medical device company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.08 by $0.34. The firm had revenue of $38.17 million for 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%. Cutera’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. research analysts predict that Cutera will post 0.55 EPS for the current year.

In related news, insider James A. Reinstein sold 7,175 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $45.35, for a total value of $325,386.25. Following the completion of the sale, the insider now owns 132,284 shares of the company’s stock, valued at $5,999,079.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy J. Oshea sold 4,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 36,467 shares of the company’s stock, valued at approximately $1,495,147. The disclosure for this sale can be found here. Insiders have sold 32,468 shares of company stock worth $1,459,096 in the last quarter. 11.60% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its holdings in shares of Cutera by 1.3% in the second quarter. California State Teachers Retirement System now owns 23,405 shares of the medical device company’s stock valued at $606,000 after purchasing an additional 300 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of Cutera by 8.4% in the second quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock valued at $187,000 after purchasing an additional 561 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Cutera by 12.0% in the second quarter. The Manufacturers Life Insurance Company now owns 11,479 shares of the medical device company’s stock valued at $297,000 after purchasing an additional 1,230 shares during the last quarter. Federated Investors Inc. PA increased its holdings in shares of Cutera by 2.5% in the second quarter. Federated Investors Inc. PA now owns 58,415 shares of the medical device company’s stock valued at $1,513,000 after purchasing an additional 1,427 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Cutera by 69.6% in the third quarter. Legal & General Group Plc now owns 3,600 shares of the medical device company’s stock valued at $149,000 after purchasing an additional 1,477 shares during the last quarter. 87.64% of the stock is owned by hedge funds and other institutional investors.

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About Cutera

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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