Cutera, Inc. (NASDAQ:CUTR) Earns “Buy” Rating from Gabelli
Gabelli reissued their buy rating on shares of Cutera, Inc. (NASDAQ:CUTR) in a report published on Wednesday. Gabelli also issued estimates for Cutera’s FY2017 earnings at $0.55 EPS, FY2018 earnings at $0.85 EPS, FY2019 earnings at $1.20 EPS, FY2020 earnings at $1.30 EPS and FY2021 earnings at $1.70 EPS.
A number of other analysts also recently issued reports on CUTR. BidaskClub downgraded shares of Cutera from a buy rating to a hold rating in a report on Wednesday, August 2nd. Roth Capital lifted their price objective on shares of Cutera from $32.00 to $39.00 and gave the stock a buy rating in a report on Tuesday. Sidoti began coverage on shares of Cutera in a report on Tuesday, April 11th. They set a buy rating and a $27.00 price objective for the company. Zacks Investment Research downgraded shares of Cutera from a buy rating to a hold rating in a report on Monday, June 26th. Finally, Maxim Group reaffirmed a buy rating and set a $33.00 price objective (up from $27.00) on shares of Cutera in a report on Thursday, July 13th. Six analysts have rated the stock with a buy rating, Cutera presently has a consensus rating of Buy and a consensus price target of $33.25.
Shares of Cutera (NASDAQ:CUTR) traded up 1.04% on Wednesday, hitting $34.10. The stock had a trading volume of 191,999 shares. Cutera has a 1-year low of $10.54 and a 1-year high of $34.91. The company has a market capitalization of $477.57 million, a PE ratio of 73.33 and a beta of 0.60. The firm has a 50-day moving average of $27.16 and a 200 day moving average of $22.41.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The company had revenue of $36.40 million during the quarter, compared to the consensus estimate of $32.08 million. During the same period in the previous year, the firm posted $0.07 EPS. The firm’s revenue was up 32.4% compared to the same quarter last year. On average, equities analysts anticipate that Cutera will post $0.55 earnings per share for the current fiscal year.
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Cutera announced that its board has authorized a stock repurchase program on Monday, August 7th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the medical device company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other Cutera news, CFO Ronald J. Santilli sold 3,857 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $22.95, for a total value of $88,518.15. Following the completion of the sale, the chief financial officer now directly owns 88,321 shares of the company’s stock, valued at $2,026,966.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Gollnick sold 39,204 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $22.31, for a total transaction of $874,641.24. Following the completion of the sale, the director now directly owns 34,136 shares of the company’s stock, valued at $761,574.16. The disclosure for this sale can be found here. Insiders sold 64,563 shares of company stock valued at $1,485,360 over the last three months. 11.60% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Cutera by 0.8% in the second quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock valued at $31,456,000 after buying an additional 9,100 shares in the last quarter. Gamco Investors INC. ET AL increased its stake 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 in the last quarter. Vanguard Group Inc. increased its stake 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 in the last quarter. Kennedy Capital Management Inc. acquired a new stake in Cutera during the second quarter valued at $9,426,000. Finally, Teton Advisors Inc. increased its stake 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 in the last quarter. 82.87% of the stock is owned by institutional investors and hedge funds.
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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