Gabelli Funds LLC Sells 28,700 Shares of Cutera, Inc. (NASDAQ:CUTR)

Gabelli Funds LLC lessened its holdings in Cutera, Inc. (NASDAQ:CUTR) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 338,400 shares of the medical device company’s stock after selling 28,700 shares during the quarter. Gabelli Funds LLC owned 1.68% of Cutera worth $511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Findell Capital Management LLC bought a new stake in Cutera in the 4th quarter valued at about $39,000. Opti Capital Management LP bought a new stake in shares of Cutera in the fourth quarter valued at approximately $1,755,000,000. BNP Paribas Financial Markets grew its position in Cutera by 7.1% during the first quarter. BNP Paribas Financial Markets now owns 75,833 shares of the medical device company’s stock worth $111,000 after buying an additional 5,017 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Cutera during the 4th quarter worth $102,000. Finally, Ground Swell Capital LLC acquired a new position in Cutera in the 2nd quarter valued at $37,000. 90.70% of the stock is currently owned by institutional investors and hedge funds.

Cutera Trading Up 4.4 %

CUTR opened at $0.73 on Friday. The company has a market cap of $14.69 million, a P/E ratio of -0.10 and a beta of 1.32. The company’s 50 day moving average is $0.93 and its 200-day moving average is $1.56. Cutera, Inc. has a 1-year low of $0.65 and a 1-year high of $6.52.

Cutera (NASDAQ:CUTR) last issued its earnings results on Thursday, August 8th. The medical device company reported ($1.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.32. The company had revenue of $34.38 million during the quarter, compared to analyst estimates of $39.47 million. On average, equities analysts forecast that Cutera, Inc. will post -5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

CUTR has been the topic of a number of recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $1.00 price target (down previously from $3.00) on shares of Cutera in a research report on Friday, August 9th. Stephens dropped their target price on shares of Cutera from $10.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.33.

Cutera Company Profile

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 skin revitalization; truFlex, a bio-electrical muscle stimulation device designs to strengthen, firm and tone the abdomen, buttocks, and thighs; and excel V/V+, a vascular and benign pigmented lesion treatment platform.