Cutera, Inc. (NASDAQ:CUTR) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its position in shares of Cutera, Inc. (NASDAQ:CUTRFree Report) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 401,500 shares of the medical device company’s stock after selling 36,400 shares during the period. Gabelli Funds LLC owned approximately 2.01% of Cutera worth $1,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in Cutera by 112.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,363 shares of the medical device company’s stock valued at $29,000 after buying an additional 4,430 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Cutera during the 3rd quarter valued at $43,000. PNC Financial Services Group Inc. boosted its position in Cutera by 75.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 22,000 shares of the medical device company’s stock worth $132,000 after purchasing an additional 9,472 shares during the period. SG Americas Securities LLC acquired a new stake in Cutera in the 4th quarter valued at $43,000. Finally, Hawk Ridge Capital Management LP raised its position in Cutera by 5.0% in the third quarter. Hawk Ridge Capital Management LP now owns 444,909 shares of the medical device company’s stock valued at $2,678,000 after purchasing an additional 21,009 shares during the period. 90.70% of the stock is owned by institutional investors and hedge funds.

Cutera Stock Performance

NASDAQ:CUTR opened at $1.92 on Monday. The stock has a market cap of $38.53 million, a price-to-earnings ratio of -0.27 and a beta of 1.42. Cutera, Inc. has a one year low of $1.28 and a one year high of $21.41. The business’s 50-day simple moving average is $2.12 and its 200 day simple moving average is $2.42.

Cutera (NASDAQ:CUTRGet Free Report) last announced its earnings results on Thursday, May 9th. The medical device company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.05). The business had revenue of $38.79 million during the quarter, compared to the consensus estimate of $37.17 million. During the same quarter last year, the firm posted ($1.26) earnings per share. On average, equities research analysts predict that Cutera, Inc. will post -5.88 EPS for the current year.

Analysts Set New Price Targets

CUTR has been the subject of several analyst reports. Stephens reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Cutera in a research report on Friday, March 22nd. StockNews.com upgraded Cutera to a “sell” rating in a report on Friday, May 10th. Finally, William Blair upgraded shares of Cutera from an “underperform” rating to a “market perform” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.67.

Get Our Latest Stock Report on CUTR

Insider Buying and Selling at Cutera

In other news, EVP Michael Karavitis sold 24,940 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $2.59, for a total value of $64,594.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

Cutera Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cutera (NASDAQ:CUTR)

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