Cutera (NASDAQ:CUTR) Price Target Raised to $80.00

Cutera (NASDAQ:CUTR – Get Rating) had its price objective raised by research analysts at Maxim Group from $60.00 to $80.00 in a note issued to investors on Thursday, The Fly reports. Maxim Group’s price target suggests a potential upside of 34.45% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Stifel Nicolaus boosted their price target on Cutera from $60.00 to $70.00 in a research note on Monday, March 28th. Zacks Investment Research upgraded Cutera from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, March 30th. Finally, StockNews.com initiated coverage on Cutera in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cutera presently has a consensus rating of “Buy” and a consensus target price of $70.00.

Shares of NASDAQ:CUTR opened at $59.50 on Thursday. Cutera has a 12-month low of $28.67 and a 12-month high of $74.38. The stock has a market cap of $1.08 billion, a PE ratio of 850.12 and a beta of 1.79. The business has a 50 day moving average of $56.48 and a 200-day moving average of $44.86. The company has a quick ratio of 2.84, a current ratio of 3.38 and a debt-to-equity ratio of 2.37.

Cutera (NASDAQ:CUTR – Get Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.27). Cutera had a return on equity of 3.99% and a net margin of 0.89%. The firm had revenue of $65.63 million for the quarter, compared to the consensus estimate of $60.78 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The company’s revenue was up 31.4% on a year-over-year basis. Equities research analysts expect that Cutera will post 0.19 earnings per share for the current year.

In other news, CEO David H. Mowry acquired 2,453 shares of the stock in a transaction on Friday, March 4th. The stock was acquired at an average cost of $40.81 per share, for a total transaction of $100,106.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CUTR. BlackRock Inc. increased its holdings in shares of Cutera by 6.0% during the fourth quarter. BlackRock Inc. now owns 2,635,306 shares of the medical device company’s stock worth $108,891,000 after buying an additional 148,427 shares in the last quarter. RTW Investments LP increased its holdings in shares of Cutera by 74.5% during the third quarter. RTW Investments LP now owns 1,257,862 shares of the medical device company’s stock worth $58,616,000 after buying an additional 537,045 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Cutera by 66.7% during the fourth quarter. Millennium Management LLC now owns 708,966 shares of the medical device company’s stock worth $29,294,000 after buying an additional 283,736 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cutera by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 402,034 shares of the medical device company’s stock worth $16,611,000 after buying an additional 4,832 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Cutera by 9.9% during the third quarter. Geode Capital Management LLC now owns 326,618 shares of the medical device company’s stock worth $15,220,000 after buying an additional 29,481 shares in the last quarter.

About Cutera (Get Rating)

Cutera, Inc, a medical device company, researches, develops, manufactures, markets, and services laser and energy-based aesthetics systems for practitioners worldwide. The company offers Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truSculpt flex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; excel V+, a vascular and benign pigmented lesion treatment platform; truSculpt iD, for the non-surgical body sculpting market; and Secret RF, a fractional RF microneedling system for tissue coagulation and hemostasis.

See Also