Cutera (NASDAQ:CUTR) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Cutera (NASDAQ:CUTR) from a hold rating to a strong-buy rating in a report issued on Wednesday, Zacks.com reports. The firm currently has $38.00 price objective on the medical device company’s stock.

According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “

Several other research firms also recently commented on CUTR. Maxim Group reaffirmed a hold rating on shares of Cutera in a report on Friday, August 9th. ValuEngine raised shares of Cutera from a buy rating to a strong-buy rating in a report on Saturday, August 10th. Finally, BidaskClub raised shares of Cutera from a buy rating to a strong-buy rating in a report on Saturday, July 13th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the stock. Cutera has a consensus rating of Buy and a consensus target price of $35.50.

Shares of Cutera stock opened at $30.86 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.67. Cutera has a 12-month low of $12.32 and a 12-month high of $35.85. The firm’s 50 day simple moving average is $24.92 and its two-hundred day simple moving average is $19.20.

Cutera (NASDAQ:CUTR) last released its quarterly earnings data on Thursday, August 8th. The medical device company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.20. The business had revenue of $47.77 million for the quarter, compared to the consensus estimate of $42.08 million. Cutera had a negative net margin of 20.49% and a negative return on equity of 69.92%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. Sell-side analysts anticipate that Cutera will post -0.55 earnings per share for the current year.

In other Cutera news, Director J Daniel Plants acquired 28,166 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were acquired at an average cost of $16.73 per share, with a total value of $471,217.18. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought a total of 42,377 shares of company stock worth $711,717 over the last ninety days. Insiders own 2.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Cutera by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 146,623 shares of the medical device company’s stock valued at $2,495,000 after acquiring an additional 7,013 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Cutera by 5.6% during the first quarter. Gabelli Funds LLC now owns 644,807 shares of the medical device company’s stock worth $11,387,000 after buying an additional 34,400 shares in the last quarter. Stephens Inc. AR purchased a new stake in Cutera during the first quarter worth $276,000. Legal & General Group Plc boosted its holdings in Cutera by 3.2% during the fourth quarter. Legal & General Group Plc now owns 29,967 shares of the medical device company’s stock worth $506,000 after buying an additional 942 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Cutera by 115.4% during the first quarter. Assenagon Asset Management S.A. now owns 159,000 shares of the medical device company’s stock worth $2,808,000 after buying an additional 85,170 shares in the last quarter. 92.39% of the stock is currently owned by institutional investors and hedge funds.

About Cutera

Cutera, Inc, a medical device company, designs, develops, manufactures, markets, and services laser and other energy based aesthetics systems worldwide. The company offers enlighten platform, a laser system that is used for tattoo removal, as well as for the treatment of benign pigmented lesions; excel HR platform, a hair removal solution for various skin types; and truSculpt, a high-powered radio frequency platform designed for deep tissue heating.

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