Cutera (NASDAQ:CUTR) had its price target lifted by Stephens from $18.00 to $24.00 in a research note issued on Monday, The Fly reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Stephens’ price objective would suggest a potential upside of 28.14% from the company’s previous close. The analysts noted that the move was a valuation call.
CUTR has been the subject of a number of other research reports. ValuEngine upgraded shares of Cutera from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 1st. BidaskClub upgraded shares of Cutera from a “sell” rating to a “hold” rating in a report on Friday, June 5th. Finally, Zacks Investment Research downgraded shares of Cutera from a “hold” rating to a “sell” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.50.
Shares of Cutera stock opened at $18.73 on Monday. The firm has a market capitalization of $326.36 million, a PE ratio of -10.02 and a beta of 1.58. Cutera has a twelve month low of $9.07 and a twelve month high of $39.15. The firm’s 50-day moving average price is $15.70 and its 200 day moving average price is $14.37. The company has a current ratio of 2.17, a quick ratio of 1.47 and a debt-to-equity ratio of 0.14.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Thursday, August 6th. The medical device company reported ($0.67) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.27. The firm had revenue of $26.37 million for the quarter, compared to analyst estimates of $20.20 million. Cutera had a negative net margin of 18.22% and a negative return on equity of 64.84%. On average, sell-side analysts predict that Cutera will post -2.16 EPS for the current fiscal year.
In other news, Director J Daniel Plants purchased 11,540 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average price of $14.87 per share, for a total transaction of $171,599.80. Following the acquisition, the director now directly owns 23,020 shares of the company’s stock, valued at $342,307.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Katherine S. Zanotti purchased 3,085 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $16.36 per share, with a total value of $50,470.60. Following the acquisition, the director now directly owns 20,178 shares in the company, valued at $330,112.08. The disclosure for this purchase can be found here. Insiders have bought a total of 74,394 shares of company stock valued at $1,112,629 in the last 90 days. Insiders own 2.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CUTR. Bank of Montreal Can increased its holdings in shares of Cutera by 339.9% during the 2nd quarter. Bank of Montreal Can now owns 2,644 shares of the medical device company’s stock worth $30,000 after buying an additional 2,043 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of Cutera by 4,366.7% in the second quarter. Point72 Hong Kong Ltd now owns 2,948 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 2,882 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Cutera by 76.7% in the first quarter. BNP Paribas Arbitrage SA now owns 5,633 shares of the medical device company’s stock valued at $74,000 after purchasing an additional 2,446 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Cutera in the second quarter valued at about $114,000. Finally, UBS Group AG lifted its holdings in shares of Cutera by 25.7% in the second quarter. UBS Group AG now owns 11,710 shares of the medical device company’s stock valued at $143,000 after purchasing an additional 2,396 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.
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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