Ronald J. Santilli Sells 12,000 Shares of Cutera, Inc. (CUTR) Stock
Cutera, Inc. (NASDAQ:CUTR) CFO Ronald J. Santilli sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $34.00, for a total transaction of $408,000.00. Following the completion of the sale, the chief financial officer now owns 75,253 shares of the company’s stock, valued at approximately $2,558,602. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Cutera, Inc. (CUTR) opened at 33.75 on Friday. Cutera, Inc. has a 1-year low of $10.54 and a 1-year high of $34.91. The company has a 50-day moving average of $28.32 and a 200 day moving average of $22.96. The stock has a market cap of $472.67 million, a P/E ratio of 72.58 and a beta of 0.60.
Cutera (NASDAQ:CUTR) last posted its earnings results on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $32.08 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. Cutera’s revenue for the quarter was up 32.4% compared to the same quarter last year. Analysts predict that Cutera, Inc. will post $0.52 EPS for the current year.
Cutera declared that its board has approved a share buyback plan on Monday, August 7th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management Inc. bought a new position in Cutera during the second quarter worth approximately $9,426,000. Stonepine Capital Management LLC bought a new position in Cutera during the second quarter worth approximately $4,533,000. Renaissance Technologies LLC boosted its position in Cutera by 13.4% in the first quarter. Renaissance Technologies LLC now owns 1,205,400 shares of the medical device company’s stock worth $24,952,000 after buying an additional 142,140 shares during the last quarter. Summit Creek Advisors LLC bought a new position in Cutera during the second quarter worth approximately $3,380,000. Finally, Ameriprise Financial Inc. bought a new position in Cutera during the second quarter worth approximately $3,175,000. 84.44% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on CUTR shares. Roth Capital started coverage on shares of Cutera in a report on Monday, June 26th. They issued a “buy” rating and a $32.00 target price for the company. Zacks Investment Research upgraded shares of Cutera from a “sell” rating to a “buy” rating and set a $28.00 target price for the company in a report on Tuesday, June 20th. Sidoti restated a “buy” rating and issued a $30.00 target price (up previously from $27.00) on shares of Cutera in a report on Saturday, June 3rd. BidaskClub lowered shares of Cutera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Maxim Group restated a “buy” rating and issued a $33.00 target price (up previously 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 has an average rating of “Buy” and an average target price of $33.25.
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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