Cutera (NASDAQ:CUTR) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cutera (NASDAQ:CUTR) from a sell rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “

A number of other analysts have also issued reports on CUTR. BidaskClub lowered shares of Waterstone Financial from a hold rating to a sell rating in a research note on Friday, June 21st. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $34.67.

Shares of CUTR opened at $23.78 on Tuesday. The stock has a market cap of $329.31 million, a PE ratio of -10.66 and a beta of 0.88. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $18.78. Cutera has a twelve month low of $12.32 and a twelve month high of $44.85.

Cutera (NASDAQ:CUTR) last announced its quarterly 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). The firm had revenue of $36.00 million for the quarter, compared to analysts’ expectations of $33.45 million. Cutera had a negative net margin of 22.45% and a negative return on equity of 65.62%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. On average, analysts predict that Cutera will post -0.66 earnings per share for the current fiscal year.

In other news, Director J Daniel Plants acquired 28,166 shares of Cutera stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average cost of $16.73 per share, with a total value of $471,217.18. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders purchased 49,522 shares of company stock valued at $832,825. 2.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of CUTR. BNP Paribas Arbitrage SA increased its stake in shares of 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 acquiring an additional 2,833 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Cutera during the 4th quarter worth about $65,000. Metropolitan Life Insurance Co. NY increased its position in shares of Cutera by 359.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,704 shares of the medical device company’s stock worth $80,000 after purchasing an additional 3,680 shares during the last quarter. Marshall Wace North America L.P. increased its position in shares of 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 worth $89,000 after purchasing an additional 1,476 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Cutera during the 4th quarter worth about $90,000. 91.75% of the stock is owned by institutional investors and hedge funds.

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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