Cutera (NASDAQ:CUTR) Upgraded by Zacks Investment Research to Hold
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 research analysts have also weighed in on the company. Stifel Nicolaus lifted their price objective on Cutera from $60.00 to $70.00 in a research report on Monday, March 28th. Stephens lifted their price objective on Cutera from $68.00 to $78.00 in a research report on Monday, May 9th. StockNews.com lowered Cutera from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Finally, Maxim Group lifted their price objective on Cutera from $60.00 to $80.00 in a research report on Thursday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cutera currently has a consensus rating of “Hold” and a consensus price target of $71.33.
NASDAQ:CUTR traded down $2.07 during trading hours on Friday, hitting $45.33. 343,206 shares of the company were exchanged, compared to its average volume of 370,544. The stock has a market capitalization of $823.33 million, a price-to-earnings ratio of -60.44 and a beta of 1.80. The company has a current ratio of 3.20, a quick ratio of 2.50 and a debt-to-equity ratio of 3.12. Cutera has a one year low of $31.62 and a one year high of $74.38. The company has a fifty day simple moving average of $58.32 and a 200 day simple moving average of $45.47.
Cutera (NASDAQ:CUTR – Get Rating) last announced its earnings results on Tuesday, May 10th. The medical device company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.75). The company had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.26 million. Cutera had a negative return on equity of 24.42% and a negative net margin of 5.31%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) earnings per share. Equities research analysts predict that Cutera will post -1.1 earnings per share for the current fiscal year.
In related news, CEO David H. Mowry purchased 996 shares of the business’s stock in a transaction on Friday, May 13th. The stock was acquired at an average price of $50.12 per share, for a total transaction of $49,919.52. Following the purchase, the chief executive officer now owns 131,779 shares of the company’s stock, valued at $6,604,763.48. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Cutera by 1.2% in the 1st quarter. BlackRock Inc. now owns 2,667,705 shares of the medical device company’s stock worth $184,073,000 after buying an additional 32,399 shares during the last quarter. RTW Investments LP boosted its stake in shares of Cutera by 9.2% in the 1st quarter. RTW Investments LP now owns 1,526,263 shares of the medical device company’s stock worth $105,312,000 after buying an additional 129,200 shares during the last quarter. First Light Asset Management LLC boosted its stake in shares of Cutera by 17.9% in the 1st quarter. First Light Asset Management LLC now owns 774,227 shares of the medical device company’s stock worth $53,422,000 after buying an additional 117,354 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Cutera by 66.7% in the 4th quarter. Millennium Management LLC now owns 708,966 shares of the medical device company’s stock worth $29,294,000 after buying an additional 283,736 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cutera by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 402,034 shares of the medical device company’s stock worth $16,611,000 after buying an additional 4,832 shares during the last quarter.
About Cutera (Get Rating)
Cutera, Inc, a medical device company, researches, develops, manufactures, markets, and services laser and energy-based aesthetics systems for practitioners worldwide. The company offers Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truSculpt flex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; excel V+, a vascular and benign pigmented lesion treatment platform; truSculpt iD, for the non-surgical body sculpting market; and Secret RF, a fractional RF microneedling system for tissue coagulation and hemostasis.
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