Zacks Investment Research downgraded shares of Cutera (NASDAQ:CUTR) from a hold rating to a sell rating in a report released on Monday.
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 brokerages also recently commented on CUTR. Stephens initiated coverage on Cutera in a report on Tuesday, March 13th. They set an overweight rating and a $60.00 price target on the stock. TheStreet downgraded Cutera from a b- rating to a c+ rating in a report on Tuesday, May 15th. ValuEngine downgraded Cutera from a strong-buy rating to a buy rating in a report on Wednesday, May 9th. Stifel Nicolaus initiated coverage on Cutera in a report on Monday, April 16th. They set a hold rating and a $55.00 price target on the stock. Finally, BidaskClub upgraded Cutera from a buy rating to a strong-buy rating in a report on Saturday, April 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $46.67.
Shares of Cutera opened at $43.35 on Monday, Marketbeat.com reports. Cutera has a 12 month low of $24.15 and a 12 month high of $56.05. The company has a market cap of $586.96 million, a price-to-earnings ratio of 56.30, a P/E/G ratio of 3.78 and a beta of 0.48.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings results on Tuesday, May 8th. The medical device company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.03). Cutera had a net margin of 18.54% and a return on equity of 16.12%. The company had revenue of $34.10 million for the quarter, compared to analyst estimates of $35.27 million. During the same quarter last year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. equities research analysts forecast that Cutera will post 0.57 EPS for the current year.
In other news, Director David A. Gollnick sold 17,175 shares of the stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $39.37, for a total value of $676,179.75. Following the completion of the sale, the director now directly owns 9,466 shares of the company’s stock, valued at $372,676.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Gollnick sold 892 shares of the stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $41.02, for a total value of $36,589.84. Following the completion of the sale, the director now directly owns 9,466 shares of the company’s stock, valued at $388,295.32. The disclosure for this sale can be found here. Insiders sold 29,412 shares of company stock valued at $1,205,483 over the last three months. 1.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP boosted its position in shares of Cutera by 25.5% in the fourth quarter. Two Sigma Investments LP now owns 68,177 shares of the medical device company’s stock valued at $3,092,000 after acquiring an additional 13,862 shares during the period. Texas Permanent School Fund bought a new stake in shares of Cutera in the fourth quarter valued at approximately $425,000. Rhumbline Advisers boosted its position in shares of Cutera by 110.3% in the fourth quarter. Rhumbline Advisers now owns 29,170 shares of the medical device company’s stock valued at $1,323,000 after acquiring an additional 15,300 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Cutera in the fourth quarter valued at approximately $379,000. Finally, Renaissance Technologies LLC lifted its position in Cutera by 3.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,083,600 shares of the medical device company’s stock worth $49,141,000 after purchasing an additional 37,920 shares during the period. 93.36% of the stock is owned by institutional investors.
Cutera Company Profile
Cutera, Inc, a medical device company, designs, develops, manufactures, markets, and services laser and other energy based aesthetics systems worldwide. The company offers enlighten platform, a laser system that is used for tattoo removal, as well as for the treatment of benign pigmented lesions; excel HR platform, a hair removal solution for various skin types; and truSculpt, a high-powered radio frequency platform designed for deep tissue heating.
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