Cutera (NASDAQ:CUTR) Downgraded by Zacks Investment Research to “Hold”

Cutera (NASDAQ:CUTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, 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. “

Other research analysts have also issued research reports about the stock. Sidoti lowered shares of Cutera from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Maxim Group reiterated a “hold” rating on shares of Cutera in a report on Friday, August 9th. ValuEngine downgraded shares of Cutera from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, BidaskClub downgraded shares of Cutera from a “strong-buy” rating to a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.00.

Cutera stock traded up $1.02 during midday trading on Monday, hitting $30.82. 133,900 shares of the stock were exchanged, compared to its average volume of 168,063. The company has a fifty day simple moving average of $29.38 and a two-hundred day simple moving average of $23.82. Cutera has a 52 week low of $12.32 and a 52 week high of $35.85. The stock has a market capitalization of $405.49 million, a PE ratio of -13.82 and a beta of 0.87. The company has a quick ratio of 1.16, a current ratio of 1.67 and a debt-to-equity ratio of 0.18.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings results on Thursday, August 8th. The medical device company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.20. Cutera had a negative net margin of 20.49% and a negative return on equity of 69.92%. The firm had revenue of $47.77 million for the quarter, compared to analyst estimates of $42.08 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cutera will post -0.55 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new position in shares of Cutera in the second quarter valued at $31,000. Quantamental Technologies LLC acquired a new position in shares of Cutera in the second quarter valued at $37,000. First Quadrant L P CA acquired a new position in shares of Cutera in the third quarter valued at $51,000. JPMorgan Chase & Co. increased its holdings in shares of Cutera by 14.6% in the second quarter. JPMorgan Chase & Co. now owns 3,798 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 483 shares during the last quarter. Finally, Walleye Trading Advisors LLC acquired a new position in shares of Cutera in the second quarter valued at $226,000. Institutional investors and hedge funds own 90.75% of the company’s stock.

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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