Cutera, Inc. (NASDAQ:CUTR) EVP Larry Laber sold 500 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $40.50, for a total transaction of $20,250.00. Following the completion of the transaction, the executive vice president now owns 73,382 shares of the company’s stock, valued at $2,971,971. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Cutera, Inc. (NASDAQ:CUTR) traded down 0.50% on Wednesday, reaching $39.75. 97,989 shares of the company’s stock traded hands. The firm has a market cap of $556.70 million, a P/E ratio of 85.48 and a beta of 0.53. Cutera, Inc. has a 12-month low of $12.45 and a 12-month high of $44.40. The stock has a 50-day moving average of $40.43 and a 200 day moving average of $28.78.
Cutera (NASDAQ:CUTR) last issued its earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. The firm had revenue of $36.40 million during the quarter, compared to analyst estimates of $32.08 million. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The business’s revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, equities research analysts expect that Cutera, Inc. will post $0.52 earnings per share for the current year.
Cutera announced that its Board of Directors has initiated a share buyback plan on Monday, August 7th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the medical device company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Cutera from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Maxim Group lowered shares of Cutera from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. Roth Capital upped their price objective on shares of Cutera from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, September 12th. TheStreet upgraded shares of Cutera from a “c” rating to a “b” rating in a report on Friday, August 18th. Finally, BidaskClub upgraded shares of Cutera from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.33.
Several institutional investors and hedge funds have recently modified their holdings of CUTR. American International Group Inc. boosted its stake in shares of Cutera by 7.0% during the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock valued at $149,000 after purchasing an additional 475 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Cutera by 8.4% during the second quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock valued at $187,000 after purchasing an additional 561 shares during the period. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Cutera during the first quarter valued at $202,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Cutera during the second quarter valued at $225,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Cutera during the second quarter valued at $241,000. 89.15% of the stock is owned by hedge funds and other institutional investors.
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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