Cutera, Inc. (NASDAQ:CUTR) – Stock analysts at Gabelli raised their FY2017 earnings estimates for Cutera in a report released on Wednesday. Gabelli analyst J. Tsai now forecasts that the medical device company will earn $0.55 per share for the year, up from their prior estimate of $0.45. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Cutera’s FY2018 earnings at $0.85 EPS, FY2019 earnings at $1.20 EPS, FY2020 earnings at $1.30 EPS and FY2021 earnings at $1.70 EPS.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The firm had revenue of $36.40 million for the quarter, compared to analyst estimates of $32.08 million. During the same period last year, the firm posted $0.07 EPS. Cutera’s quarterly revenue was up 32.4% on a year-over-year basis.
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CUTR has been the topic of several other reports. Zacks Investment Research raised Cutera from a “sell” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, June 20th. Roth Capital increased their target price on Cutera from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday. BidaskClub lowered Cutera from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Sidoti reaffirmed a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Cutera in a research report on Friday, July 7th. Finally, TheStreet lowered Cutera from a “b-” rating to a “c” rating in a research report on Monday, May 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.25.
Cutera (NASDAQ CUTR) opened at 33.05 on Thursday. The company has a 50-day moving average of $26.63 and a 200-day moving average of $22.21. Cutera has a 52-week low of $10.54 and a 52-week high of $34.00. The stock has a market capitalization of $462.87 million, a price-to-earnings ratio of 71.08 and a beta of 0.60.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 valued at $24,952,000 after buying an additional 142,140 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Cutera by 3.7% in the second quarter. Gamco Investors INC. ET AL now owns 576,363 shares of the medical device company’s stock valued at $14,928,000 after buying an additional 20,363 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in Cutera during the second quarter valued at about $9,426,000. Teton Advisors Inc. boosted its position in Cutera by 6.7% in the second quarter. Teton Advisors Inc. now owns 319,000 shares of the medical device company’s stock valued at $8,262,000 after buying an additional 20,000 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. boosted its position in Cutera by 2.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 201,064 shares of the medical device company’s stock valued at $4,162,000 after buying an additional 4,615 shares during the last quarter. 82.87% of the stock is owned by institutional investors.
In other news, EVP Larry Laber sold 1,000 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $25.88, for a total value of $25,880.00. Following the completion of the transaction, the executive vice president now owns 73,140 shares of the company’s stock, valued at $1,892,863.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David A. Gollnick sold 39,204 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $22.31, for a total value of $874,641.24. Following the completion of the transaction, the director now directly owns 34,136 shares of the company’s stock, valued at approximately $761,574.16. The disclosure for this sale can be found here. In the last three months, insiders sold 64,563 shares of company stock valued at $1,485,360. Company insiders own 11.60% of the company’s stock.
Cutera declared that its board has initiated a stock 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 buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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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