Cutera (NASDAQ:CUTR) Cut to Hold at BidaskClub

BidaskClub cut shares of Cutera (NASDAQ:CUTR) from a buy rating to a hold rating in a research report released on Thursday, September 20th.

A number of other brokerages have also weighed in on CUTR. Stifel Nicolaus dropped their price objective on Cutera from $55.00 to $45.00 and set a hold rating on the stock in a report on Wednesday, August 8th. ValuEngine lowered Cutera from a strong-buy rating to a buy rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research lowered Cutera from a hold rating to a sell rating in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $39.24.

CUTR stock traded down $0.75 on Thursday, reaching $21.65. 175,372 shares of the company’s stock were exchanged, compared to its average volume of 222,910. Cutera has a twelve month low of $20.75 and a twelve month high of $56.05. The firm has a market capitalization of $450.39 million, a PE ratio of 28.12 and a beta of 0.31.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Tuesday, August 7th. The medical device company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.06). Cutera had a return on equity of 10.21% and a net margin of 15.67%. The business had revenue of $42.55 million for the quarter, compared to analyst estimates of $41.50 million. On average, equities research analysts anticipate that Cutera will post -0.16 earnings per share for the current year.

In other news, insider James A. Reinstein bought 1,000 shares of the stock in a transaction on Wednesday, August 29th. The shares were bought at an average price of $32.02 per share, with a total value of $32,020.00. Following the completion of the acquisition, the insider now owns 139,907 shares of the company’s stock, valued at $4,479,822.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of CUTR. Rhumbline Advisers grew its holdings in Cutera by 6.3% in the first quarter. Rhumbline Advisers now owns 31,012 shares of the medical device company’s stock valued at $1,558,000 after purchasing an additional 1,842 shares during the last quarter. KBC Group NV acquired a new stake in shares of Cutera during the first quarter valued at $2,072,000. Scout Investments Inc. boosted its stake in shares of Cutera by 14.3% during the first quarter. Scout Investments Inc. now owns 68,677 shares of the medical device company’s stock valued at $3,451,000 after acquiring an additional 8,600 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cutera by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 188,029 shares of the medical device company’s stock valued at $9,449,000 after acquiring an additional 17,855 shares during the last quarter. Finally, Cortina Asset Management LLC boosted its stake in shares of Cutera by 57.2% during the first quarter. Cortina Asset Management LLC now owns 166,022 shares of the medical device company’s stock valued at $8,343,000 after acquiring an additional 60,420 shares during the last quarter. 93.36% of the stock is currently owned by institutional investors.

About Cutera

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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