Cutera (NASDAQ:CUTR) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Cutera (NASDAQ:CUTR) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

CUTR has been the subject of a number of other reports. Maxim Group reissued a hold rating on shares of Cutera in a report on Friday, August 9th. Sidoti lowered Cutera from a buy rating to a neutral rating in a research note on Thursday, August 22nd. ValuEngine lowered Cutera from a buy rating to a hold rating in a research note on Tuesday. Finally, BidaskClub raised Cutera from a buy rating to a strong-buy rating in a research note on Saturday, July 13th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $31.50.

CUTR stock traded up $0.11 on Wednesday, reaching $28.54. The company’s stock had a trading volume of 407 shares, compared to its average volume of 195,964. Cutera has a 52 week low of $12.32 and a 52 week high of $35.85. The company has a market capitalization of $393.45 million, a P/E ratio of -12.96 and a beta of 0.87. The firm has a fifty day moving average of $29.53 and a two-hundred day moving average of $22.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.67 and a quick ratio of 1.16.

Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Thursday, August 8th. The medical device company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.20. Cutera had a negative return on equity of 69.92% and a negative net margin of 20.49%. The business had revenue of $47.77 million during the quarter, compared to analyst estimates of $42.08 million. During the same period in the prior year, the company posted $0.12 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts expect that Cutera will post -0.55 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Cutera by 14.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,798 shares of the medical device company’s stock valued at $76,000 after acquiring an additional 483 shares during the last quarter. Comerica Bank lifted its position in shares of Cutera by 4.3% during the 1st quarter. Comerica Bank now owns 13,833 shares of the medical device company’s stock valued at $249,000 after acquiring an additional 571 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Cutera by 6.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 12,310 shares of the medical device company’s stock valued at $256,000 after acquiring an additional 750 shares during the last quarter. Northern Trust Corp lifted its position in shares of Cutera by 0.4% during the 2nd quarter. Northern Trust Corp now owns 218,955 shares of the medical device company’s stock valued at $4,549,000 after acquiring an additional 802 shares during the last quarter. Finally, Bogle Investment Management L P DE lifted its position in shares of Cutera by 1.4% during the 2nd quarter. Bogle Investment Management L P DE now owns 84,718 shares of the medical device company’s stock valued at $1,760,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors own 90.68% of the company’s stock.

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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