Stone Ridge Asset Management LLC Buys Shares of 13,884 Cutera, Inc. (CUTR)

Stone Ridge Asset Management LLC bought a new position in Cutera, Inc. (NASDAQ:CUTR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,884 shares of the medical device company’s stock, valued at approximately $630,000.

Other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC bought a new position in Cutera in the 3rd quarter worth about $117,000. State of Alaska Department of Revenue bought a new position in Cutera in the 4th quarter worth about $125,000. Legal & General Group Plc grew its stake in Cutera by 69.6% in the 3rd quarter. Legal & General Group Plc now owns 3,600 shares of the medical device company’s stock worth $149,000 after acquiring an additional 1,477 shares in the last quarter. Alambic Investment Management L.P. bought a new position in Cutera in the 4th quarter worth about $204,000. Finally, Teacher Retirement System of Texas bought a new position in Cutera in the 4th quarter worth about $206,000. Institutional investors and hedge funds own 95.29% of the company’s stock.

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Cutera stock opened at $51.95 on Friday. Cutera, Inc. has a one year low of $18.50 and a one year high of $55.00. The company has a market cap of $719.77, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51.

Cutera (NASDAQ:CUTR) last released its quarterly earnings data on Wednesday, February 14th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.09. Cutera had a net margin of 19.80% and a return on equity of 18.31%. The firm had revenue of $47.60 million for the quarter, compared to the consensus estimate of $43.96 million. During the same period last year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. equities analysts forecast that Cutera, Inc. will post 1.1 EPS for the current year.

In other news, insider James A. Reinstein sold 7,175 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $45.35, for a total transaction of $325,386.25. Following the transaction, the insider now directly owns 132,284 shares in the company, valued at $5,999,079.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Larry Laber sold 5,843 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $45.35, for a total transaction of $264,980.05. Following the transaction, the executive vice president now owns 79,463 shares in the company, valued at $3,603,647.05. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.

A number of brokerages have commented on CUTR. BidaskClub upgraded shares of Cutera from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 15th. Stephens began coverage on shares of Cutera in a research note on Tuesday, March 13th. They issued an “overweight” rating and a $60.00 target price on the stock. Gabelli restated a “buy” rating on shares of Cutera in a research note on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of Cutera from a “hold” rating to a “strong-buy” rating and set a $53.00 target price on the stock in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $45.00.

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About Cutera

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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Institutional Ownership by Quarter for Cutera (NASDAQ:CUTR)

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