Cutera (NASDAQ:CUTR) Receives Overweight Rating from Stephens

Cutera (NASDAQ:CUTR)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a research note issued on Tuesday, Benzinga reports. They presently have a $10.00 target price on the medical device company’s stock.

A number of other equities research analysts have also recently issued reports on CUTR. StockNews.com upgraded shares of Cutera to a “sell” rating in a report on Friday, May 10th. Piper Sandler reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Cutera in a research report on Friday, June 21st. Finally, William Blair raised shares of Cutera from an “underperform” rating to a “market perform” rating in a research report on Friday, March 22nd. One 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. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.67.

Cutera Price Performance

CUTR stock opened at $1.39 on Tuesday. Cutera has a 52-week low of $1.28 and a 52-week high of $21.41. The company has a 50-day moving average of $2.09 and a two-hundred day moving average of $2.38. The stock has a market capitalization of $27.94 million, a price-to-earnings ratio of -0.19 and a beta of 1.42.

Cutera (NASDAQ:CUTR) last released its quarterly 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 for the quarter, compared to the consensus estimate of $37.17 million. During the same period last year, the business earned ($1.26) EPS. Equities analysts expect that Cutera will post -5.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Karavitis sold 24,940 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CUTR. Findell Capital Management LLC acquired a new position in Cutera in the fourth quarter worth about $39,000. Opti Capital Management LP acquired a new position in Cutera in the fourth quarter worth about $1,755,000,000. Redmile Group LLC acquired a new position in Cutera in the third quarter worth about $2,017,000. Deerfield Management Company L.P. Series C acquired a new position in Cutera in the third quarter worth about $930,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Cutera in the third quarter worth about $906,000. Institutional investors and hedge funds own 90.70% of the company’s stock.

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 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.