Zacks Investment Research upgraded shares of Cutera (NASDAQ:CUTR) from a hold rating to a buy rating in a report released on Tuesday morning, Zacks.com reports. They currently have $33.00 target price on the medical device company’s stock.
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. “
Several other brokerages have also issued reports on CUTR. BidaskClub upgraded Cutera from a buy rating to a strong-buy rating in a research note on Saturday, July 13th. Sidoti lowered Cutera from a buy rating to a neutral rating in a research note on Thursday, August 22nd. ValuEngine lowered Cutera from a buy rating to a hold rating in a research note on Tuesday, October 8th. Finally, Maxim Group reiterated a hold rating on shares of Cutera in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $29.00.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Thursday, August 8th. The medical device company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.20. The firm had revenue of $47.77 million during the quarter, compared to analysts’ expectations of $42.08 million. Cutera had a negative return on equity of 69.92% and a negative net margin of 20.49%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 EPS. On average, equities analysts expect that Cutera will post -0.55 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in shares of Cutera by 127.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 10,849 shares of the medical device company’s stock valued at $317,000 after purchasing an additional 6,072 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in shares of Cutera in the 2nd quarter valued at $3,027,000. Walleye Trading Advisors LLC bought a new position in shares of Cutera in the 2nd quarter valued at $226,000. Voce Capital Management LLC increased its stake in shares of Cutera by 12.0% in the 2nd quarter. Voce Capital Management LLC now owns 331,489 shares of the medical device company’s stock valued at $6,888,000 after purchasing an additional 35,511 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Cutera by 71.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 172,610 shares of the medical device company’s stock valued at $3,587,000 after purchasing an additional 72,126 shares during the last quarter. Institutional investors own 90.73% of the company’s stock.
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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