Cutera (NASDAQ:CUTR) Downgraded to Hold at Zacks Investment Research

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

CUTR has been the subject of several other research reports. Stephens boosted their price target on Cutera from $68.00 to $78.00 in a research note on Monday, May 9th. Stifel Nicolaus increased their price objective on Cutera from $60.00 to $70.00 in a research note on Monday, March 28th. StockNews.com lowered Cutera from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. Finally, Maxim Group increased their price objective on Cutera from $60.00 to $80.00 in a research note on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.33.

Cutera stock traded down $2.53 during mid-day trading on Friday, reaching $51.00. The company’s stock had a trading volume of 530,649 shares, compared to its average volume of 311,188. Cutera has a twelve month low of $31.62 and a twelve month high of $74.38. The firm has a market cap of $926.31 million, a price-to-earnings ratio of -68.00 and a beta of 1.79. The company has a current ratio of 3.20, a quick ratio of 2.50 and a debt-to-equity ratio of 3.12. The business has a 50 day moving average price of $58.24 and a 200-day moving average price of $45.32.

Cutera (NASDAQ:CUTRGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The medical device company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.75). Cutera had a negative net margin of 5.31% and a negative return on equity of 24.42%. The firm had revenue of $58.01 million for the quarter, compared to analyst estimates of $57.26 million. During the same period last year, the firm posted ($0.02) EPS. The business’s revenue was up 16.8% compared to the same quarter last year. On average, equities analysts expect that Cutera will post 0.19 EPS for the current fiscal year.

In related news, CEO David H. Mowry bought 996 shares of the business’s stock in a transaction on Friday, May 13th. The shares were purchased at an average price of $50.12 per share, with a total value of $49,919.52. Following the completion of the purchase, the chief executive officer now owns 131,779 shares of the company’s stock, valued at approximately $6,604,763.48. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David H. Mowry purchased 2,453 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were acquired at an average cost of $40.81 per share, for a total transaction of $100,106.93. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. RTW Investments LP boosted its stake in shares of Cutera by 74.5% during the 3rd quarter. RTW Investments LP now owns 1,257,862 shares of the medical device company’s stock worth $58,616,000 after acquiring an additional 537,045 shares during the period. Millennium Management LLC raised its holdings in shares of Cutera by 711.5% during the 3rd quarter. Millennium Management LLC now owns 425,230 shares of the medical device company’s stock worth $19,816,000 after buying an additional 372,828 shares in the last quarter. Emerald Advisers LLC acquired a new position in shares of Cutera during the 1st quarter worth $19,253,000. Emerald Mutual Fund Advisers Trust acquired a new position in Cutera in the 1st quarter worth about $15,956,000. Finally, BlackRock Inc. grew its position in shares of Cutera by 6.0% in the 4th quarter. BlackRock Inc. now owns 2,635,306 shares of the medical device company’s stock valued at $108,891,000 after buying an additional 148,427 shares during the last quarter.

Cutera Company Profile (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.

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