Federated Hermes Inc. Has $524,000 Position in Cutera, Inc. (NASDAQ:CUTR)

Federated Hermes Inc. increased its holdings in shares of Cutera, Inc. (NASDAQ:CUTR) by 38.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,559 shares of the medical device company’s stock after purchasing an additional 41,500 shares during the period. Federated Hermes Inc.’s holdings in Cutera were worth $524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CUTR. SG Americas Securities LLC bought a new stake in shares of Cutera during the fourth quarter worth $43,000. Public Employees Retirement System of Ohio bought a new position in Cutera during the 3rd quarter worth about $43,000. Redmile Group LLC acquired a new stake in shares of Cutera in the 3rd quarter valued at about $2,017,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Cutera in the third quarter valued at about $906,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Cutera during the third quarter worth about $930,000. 90.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CUTR has been the topic of several research reports. Stephens restated an “overweight” rating and issued a $10.00 target price on shares of Cutera in a research note on Friday, March 22nd. William Blair raised shares of Cutera from an “underperform” rating to a “market perform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.75.

Cutera Stock Down 1.6 %

CUTR stock opened at $2.53 on Friday. The company has a market cap of $50.45 million, a price-to-earnings ratio of -0.34 and a beta of 1.43. Cutera, Inc. has a twelve month low of $1.28 and a twelve month high of $21.47. The business has a 50 day moving average price of $1.98 and a two-hundred day moving average price of $2.56.

Cutera (NASDAQ:CUTR) last released its earnings results on Thursday, March 21st. The medical device company reported ($2.27) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($1.07). The company had revenue of $49.54 million for the quarter, compared to analyst estimates of $49.10 million. On average, equities research analysts anticipate that Cutera, Inc. will post -5.88 EPS for the current fiscal year.

About Cutera

Cutera, Inc provides aesthetic and dermatology solutions for medical practitioners worldwide. It develops, manufactures, and markets energy-based product platforms for medical practitioners; and distributes third-party manufactured skincare products. The company provides AviClear for the treatment of mild, moderate, and severe inflammatory acne vulgaris; Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truFlex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; and excel V+, a vascular and benign pigmented lesion treatment platform.