Renaissance Technologies LLC boosted its position in Cutera, Inc. (NASDAQ:CUTR) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,214,500 shares of the medical device company’s stock after buying an additional 9,100 shares during the period. Renaissance Technologies LLC owned approximately 8.76% of Cutera worth $31,456,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL lifted its holdings in Cutera by 3.7% in the second quarter. Gamco Investors INC. ET AL now owns 576,363 shares of the medical device company’s stock valued at $14,928,000 after buying an additional 20,363 shares during the period. Vanguard Group Inc. lifted its holdings in Cutera by 3.4% in the second quarter. Vanguard Group Inc. now owns 570,948 shares of the medical device company’s stock valued at $14,788,000 after buying an additional 18,549 shares during the period. Kennedy Capital Management Inc. acquired a new position in Cutera in the second quarter valued at $9,426,000. Teton Advisors Inc. lifted its holdings in Cutera by 6.7% in the second quarter. Teton Advisors Inc. now owns 319,000 shares of the medical device company’s stock valued at $8,262,000 after buying an additional 20,000 shares during the period. Finally, Northern Trust Corp lifted its holdings in Cutera by 20.0% in the second quarter. Northern Trust Corp now owns 208,940 shares of the medical device company’s stock valued at $5,411,000 after buying an additional 34,854 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.
Cutera, Inc. (CUTR) opened at 43.95 on Friday. The stock’s 50 day moving average is $38.60 and its 200 day moving average is $27.34. Cutera, Inc. has a one year low of $12.45 and a one year high of $44.40. The firm has a market cap of $615.52 million, a price-to-earnings ratio of 94.52 and a beta of 0.53.
Cutera (NASDAQ:CUTR) last announced its earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The firm had revenue of $36.40 million for the quarter, compared to analyst estimates of $32.08 million. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. On average, analysts predict that Cutera, Inc. will post $0.52 earnings per share for the current fiscal year.
Cutera announced that its Board of Directors has authorized a share repurchase plan on Monday, August 7th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the medical device company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
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In other news, EVP Ronald J. Santilli sold 1,068 shares of Cutera stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $33.20, for a total transaction of $35,457.60. Following the sale, the executive vice president now owns 87,253 shares of the company’s stock, valued at approximately $2,896,799.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald J. Santilli sold 28,519 shares of Cutera stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $34.01, for a total transaction of $969,931.19. Following the sale, the executive vice president now directly owns 75,253 shares in the company, valued at approximately $2,559,354.53. The disclosure for this sale can be found here. Insiders have sold a total of 56,309 shares of company stock worth $1,965,520 in the last ninety days. Insiders own 11.60% of the company’s stock.
Several research firms recently issued reports on CUTR. Maxim Group lowered shares of Cutera from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. Roth Capital upped their price objective on shares of Cutera from $41.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, September 12th. TheStreet upgraded shares of Cutera from a “c” rating to a “b” rating in a report on Friday, August 18th. BidaskClub upgraded shares of Cutera from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Gabelli reiterated a “buy” rating on shares of Cutera in a report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.33.
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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