Cutera, Inc. (NASDAQ:CUTR)‘s stock had its “buy” rating restated by Maxim Group in a report issued on Thursday. They presently have a $33.00 price target on the medical device company’s stock, up from their prior price target of $27.00. Maxim Group’s price target suggests a potential upside of 22.22% from the stock’s previous close.
The analysts wrote, “At the Investor Day on 6/14/17, CUTR reiterated the 2Q17 and full-year 2017 guidance it originally introduced on May 1, 2017. During the Investor Day presentation, CUTR provided additional details on its five-year growth plan, highlighted by its projection of a tripling of its annual revenue to $360M in 2021, from $118M in 2016.””
Several other equities research analysts also recently commented on CUTR. Sidoti reiterated a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Cutera in a research note on Friday, July 7th. BidaskClub upgraded shares of Cutera from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Cutera from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, June 27th. Roth Capital initiated coverage on shares of Cutera in a research report on Monday, June 26th. They set a “buy” rating and a $32.00 target price for the company. Finally, TheStreet downgraded shares of Cutera from a “b-” rating to a “c” rating in a research report on Monday, May 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.50.
Cutera (NASDAQ:CUTR) traded up 0.19% during trading on Thursday, reaching $27.05. The company had a trading volume of 34,278 shares. Cutera has a 12-month low of $10.43 and a 12-month high of $29.25. The stock has a 50 day moving average of $23.01 and a 200-day moving average of $20.36. The stock has a market capitalization of $374.86 million, a P/E ratio of 103.64 and a beta of 0.60.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings data on Monday, May 1st. The medical device company reported ($0.07) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). Cutera had a net margin of 2.89% and a return on equity of 9.21%. The business had revenue of $29.30 million during the quarter, compared to the consensus estimate of $29 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. On average, analysts forecast that Cutera will post $0.46 earnings per share for the current fiscal year.
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In other news, EVP Miguel Pardos sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $21.00, for a total transaction of $105,000.00. Following the completion of the sale, the executive vice president now owns 44,698 shares of the company’s stock, valued at $938,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Larry Laber sold 6,824 shares of the business’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $20.66, for a total transaction of $140,983.84. Following the sale, the executive vice president now directly owns 82,100 shares of the company’s stock, valued at approximately $1,696,186. The disclosure for this sale can be found here. Insiders sold 160,410 shares of company stock valued at $3,410,284 in the last ninety days. 3.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in Cutera by 49.6% in the second quarter. Bank of Montreal Can now owns 15,957 shares of the medical device company’s stock worth $413,000 after buying an additional 5,289 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Cutera during the first quarter worth approximately $363,000. Metropolitan Life Insurance Co. NY bought a new stake in Cutera during the first quarter worth approximately $202,000. Perceptive Advisors LLC bought a new stake in Cutera during the first quarter worth approximately $496,000. Finally, Bank of America Corp DE boosted its stake in Cutera by 0.4% in the first quarter. Bank of America Corp DE now owns 139,087 shares of the medical device company’s stock worth $2,879,000 after buying an additional 500 shares in the last quarter. 81.42% of the stock is owned by institutional investors and hedge funds.
Cutera Company Profile
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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