Cutera (CUTR) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of Cutera (NASDAQ:CUTR) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of Cutera from a buy rating to a hold rating in a research note on Wednesday, August 29th. Stifel Nicolaus decreased their target price on shares of Cutera from $55.00 to $45.00 and set a hold rating for the company in a research note on Wednesday, August 8th. Finally, Zacks Investment Research lowered shares of Cutera from a hold rating to a sell rating in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $52.67.

Shares of NASDAQ:CUTR opened at $30.05 on Thursday. The firm has a market cap of $415.80 million, a price-to-earnings ratio of 39.03 and a beta of 0.27. Cutera has a 12-month low of $29.85 and a 12-month high of $56.05.

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

In related news, insider James A. Reinstein bought 1,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was bought at an average price of $32.02 per share, with a total value of $32,020.00. Following the purchase, the insider now directly owns 139,907 shares of the company’s stock, valued at approximately $4,479,822.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CUTR. Rhumbline Advisers lifted its stake in shares of Cutera by 6.3% in the 1st 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 in the 1st quarter valued at $2,072,000. Scout Investments Inc. lifted its stake in shares of Cutera by 14.3% in the 1st quarter. Scout Investments Inc. now owns 68,677 shares of the medical device company’s stock valued at $3,451,000 after purchasing an additional 8,600 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Cutera by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 188,029 shares of the medical device company’s stock valued at $9,449,000 after purchasing an additional 17,855 shares during the last quarter. Finally, Cortina Asset Management LLC lifted its stake in shares of Cutera by 57.2% in the 1st quarter. Cortina Asset Management LLC now owns 166,022 shares of the medical device company’s stock valued at $8,343,000 after purchasing an additional 60,420 shares during the last quarter. 93.36% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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