Cutera (NASDAQ:CUTR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm presently has a $53.00 price objective on the medical device company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.37% from the stock’s current price.
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 equities analysts have also weighed in on the stock. BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Maxim Group reaffirmed a “hold” rating on shares of Cutera in a research report on Wednesday, November 8th. Finally, Gabelli reaffirmed a “buy” rating on shares of Cutera in a research report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $41.25.
Cutera (CUTR) traded up $0.55 during mid-day trading on Wednesday, hitting $46.75. 149,682 shares of the company traded hands, compared to its average volume of 183,442. The firm has a market capitalization of $670.58, a PE ratio of 22.80, a P/E/G ratio of 1.44 and a beta of 0.41. Cutera has a twelve month low of $18.50 and a twelve month high of $52.90.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings results on Wednesday, February 14th. The medical device company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.33 by $0.09. The business had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $43.96 million. Cutera had a net margin of 19.80% and a return on equity of 18.31%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. equities research analysts forecast that Cutera will post 0.8 EPS for the current fiscal year.
In related news, Director David B. Apfelberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $47.40, for a total transaction of $47,400.00. Following the transaction, the director now owns 8,259 shares of the company’s stock, valued at $391,476.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Miguel Pardos sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $46.70, for a total transaction of $467,000.00. Following the transaction, the executive vice president now directly owns 39,698 shares in the company, valued at approximately $1,853,896.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,018 shares of company stock worth $1,104,766. Insiders own 3.30% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System raised its position 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 period. Nationwide Fund Advisors raised its position 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 period. The Manufacturers Life Insurance Company raised its position 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 period. Legal & General Group Plc raised its position 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 period. Finally, American International Group Inc. raised its position in shares of Cutera by 19.4% in the fourth quarter. American International Group Inc. now owns 10,589 shares of the medical device company’s stock valued at $480,000 after purchasing an additional 1,724 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.
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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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