Cutera, Inc. (CUTR) Director Timothy J. Oshea Sells 4,000 Shares
Cutera, Inc. (NASDAQ:CUTR) Director Timothy J. Oshea sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $39.21, for a total value of $156,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Cutera, Inc. (CUTR) traded up 2.26% during trading on Friday, hitting $38.45. The company had a trading volume of 126,391 shares. Cutera, Inc. has a 12-month low of $12.45 and a 12-month high of $44.40. The stock has a market capitalization of $538.49 million, a price-to-earnings ratio of 82.69 and a beta of 0.53. The stock has a 50-day moving average of $40.46 and a 200 day moving average of $28.85.
Cutera (NASDAQ:CUTR) last issued its earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.10. The business had revenue of $36.40 million during the quarter, compared to the consensus estimate of $32.08 million. Cutera had a return on equity of 11.64% and a net margin of 5.07%. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. On average, analysts predict that Cutera, Inc. will post $0.52 EPS for the current fiscal year.
Cutera announced that its Board of Directors has authorized a share buyback 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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A number of hedge funds have recently modified their holdings of CUTR. American International Group Inc. increased its holdings in Cutera by 7.0% in the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock worth $149,000 after purchasing an additional 475 shares in the last quarter. Nationwide Fund Advisors grew its stake in Cutera by 8.4% in the second quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock valued at $187,000 after acquiring an additional 561 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in Cutera in the first quarter valued at approximately $202,000. Cubist Systematic Strategies LLC acquired a new stake in Cutera in the second quarter valued at approximately $225,000. Finally, PNC Financial Services Group Inc. acquired a new stake in Cutera in the second quarter valued at approximately $241,000. Institutional investors and hedge funds own 89.15% of the company’s stock.
Several equities analysts recently issued reports on CUTR shares. Roth Capital boosted their price objective on Cutera from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, September 12th. BidaskClub lowered Cutera from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Gabelli reiterated a “buy” rating on shares of Cutera in a research report on Wednesday, August 9th. Maxim Group reiterated a “buy” rating and issued a $33.00 price objective (up from $27.00) on shares of Cutera in a research report on Thursday, July 13th. Finally, TheStreet upgraded Cutera from a “c” rating to a “b” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cutera currently has a consensus rating of “Buy” and an average price target of $37.33.
Cutera Company Profile
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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