Cutera (NASDAQ:CUTR) Given “Neutral” Rating at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Cutera (NASDAQ:CUTR) in a report published on Friday, Benzinga reports. The firm currently has a $3.00 price target on the medical device company’s stock.

Several other research firms have also recently issued reports on CUTR. Stephens reaffirmed an overweight rating and issued a $10.00 price objective on shares of Cutera in a research report on Friday, March 22nd. StockNews.com raised Cutera to a sell rating in a research 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 given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $7.67.

Cutera Trading Down 7.2 %

NASDAQ CUTR opened at $1.54 on Friday. Cutera has a 12 month low of $1.28 and a 12 month high of $21.41. The stock’s fifty day moving average price is $2.14 and its 200-day moving average price is $2.40. The stock has a market cap of $30.95 million, a P/E ratio of -0.21 and a beta of 1.42.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Thursday, May 9th. The medical device company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.05). The company had revenue of $38.79 million for the quarter, compared to the consensus estimate of $37.17 million. During the same quarter last year, the business earned ($1.26) earnings per share. As a group, analysts forecast that Cutera will post -5.88 earnings per share for the current fiscal year.

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 transaction of $64,594.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cutera

A number of hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its position in Cutera by 112.6% during 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 purchasing an additional 4,430 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Cutera during the 1st quarter valued at approximately $33,000. Findell Capital Management LLC purchased a new stake in Cutera in the 4th quarter worth approximately $39,000. SG Americas Securities LLC purchased a new position in Cutera during the fourth quarter valued at approximately $43,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Cutera during the third quarter valued at approximately $43,000. Institutional investors own 90.70% of the company’s stock.

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.