Cutera (NASDAQ:CUTR) Earns Overweight Rating from Stephens

Stephens reissued their overweight rating on shares of Cutera (NASDAQ:CUTR) in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a $10.00 target price on the medical device company’s stock.

Other research analysts also recently issued reports about the company. William Blair upgraded Cutera from an underperform rating to a market perform rating in a report on Friday, March 22nd. StockNews.com upgraded Cutera to a sell rating in a report on Friday, May 10th. Finally, Piper Sandler reiterated a neutral rating and issued a $3.00 price target on shares of Cutera in a report on Friday, June 21st. 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $7.67.

Cutera Price Performance

Shares of NASDAQ:CUTR opened at $1.46 on Tuesday. The company has a market cap of $29.35 million, a P/E ratio of -0.20 and a beta of 1.42. Cutera has a 1 year low of $1.28 and a 1 year high of $21.41. The stock’s fifty day moving average price is $2.07 and its 200-day moving average price is $2.38.

Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Thursday, May 9th. The medical device company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.05). The business had revenue of $38.79 million during the quarter, compared to analyst estimates of $37.17 million. During the same period last year, the firm posted ($1.26) EPS. On average, sell-side analysts anticipate that Cutera will post -5.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Michael Karavitis sold 24,940 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was 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 can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in Cutera in the third quarter valued at $43,000. Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $29,000 after purchasing an additional 4,430 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Cutera during the fourth quarter worth about $43,000. PNC Financial Services Group Inc. grew its holdings in shares of Cutera by 75.6% during the third quarter. PNC Financial Services Group Inc. now owns 22,000 shares of the medical device company’s stock worth $132,000 after purchasing an additional 9,472 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Cutera during the first quarter worth about $33,000. 90.70% of the stock is currently owned by institutional investors and hedge funds.

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.