Cutera, Inc. (NASDAQ:CUTR) Receives $34.67 Consensus Price Target from Brokerages

Cutera, Inc. (NASDAQ:CUTR) has been given an average recommendation of “Buy” by the eight analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $34.67.

Several brokerages have recently weighed in on CUTR. ValuEngine downgraded shares of Zebra Technologies from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub downgraded shares of Waterstone Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday.

Shares of CUTR traded down $0.44 during midday trading on Friday, hitting $23.45. The stock had a trading volume of 3,955 shares, compared to its average volume of 101,311. Cutera has a 1 year low of $12.32 and a 1 year high of $44.85. The stock has a market capitalization of $329.31 million, a price-to-earnings ratio of -10.52 and a beta of 0.88. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $18.78.

Cutera (NASDAQ:CUTR) last announced its earnings results on Thursday, May 9th. The medical device company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.30). Cutera had a negative net margin of 22.45% and a negative return on equity of 65.62%. The firm had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $33.45 million. During the same period in the prior year, the company posted ($0.02) EPS. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Cutera will post -0.66 earnings per share for the current year.

In related news, Director J Daniel Plants purchased 28,166 shares of Cutera stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average price of $16.73 per share, with a total value of $471,217.18. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders purchased a total of 49,522 shares of company stock worth $832,825 in the last ninety days. 2.30% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in Cutera by 56,660.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,838 shares of the medical device company’s stock worth $50,000 after buying an additional 2,833 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in Cutera in the 4th quarter worth about $65,000. Metropolitan Life Insurance Co. NY increased its stake in Cutera by 359.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,704 shares of the medical device company’s stock worth $80,000 after buying an additional 3,680 shares during the period. Marshall Wace North America L.P. increased its position in Cutera by 41.3% during the 1st quarter. Marshall Wace North America L.P. now owns 5,052 shares of the medical device company’s stock valued at $89,000 after purchasing an additional 1,476 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new position in Cutera during the 4th quarter valued at about $90,000. 91.75% 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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