Cutera (CUTR) Announces Quarterly Earnings Results

Cutera (NASDAQ:CUTR) announced its earnings results on Thursday. The medical device company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.30), Morningstar.com reports. The company had revenue of $36.00 million for the quarter, compared to analysts’ expectations of $33.45 million. Cutera had a negative return on equity of 59.56% and a negative net margin of 22.45%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS.

Cutera stock traded down $0.77 during trading on Friday, reaching $18.21. The stock had a trading volume of 201,375 shares, compared to its average volume of 127,172. Cutera has a 52-week low of $12.32 and a 52-week high of $48.85. The company has a market capitalization of $255.67 million, a P/E ratio of -8.17 and a beta of 0.71.

Several brokerages have weighed in on CUTR. Stephens lowered their target price on shares of Cutera from $40.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, February 21st. They noted that the move was a valuation call. BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Maxim Group reissued a “hold” rating on shares of Cutera in a research note on Monday, February 11th. Zacks Investment Research raised shares of Cutera from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, TheStreet lowered shares of Cutera from a “c” rating to a “d” rating in a research note on Thursday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Cutera presently has a consensus rating of “Hold” and a consensus target price of $34.67.

A number of institutional investors have recently modified their holdings of the stock. Comerica Bank lifted its stake in Cutera by 4.3% in the first quarter. Comerica Bank now owns 13,833 shares of the medical device company’s stock worth $249,000 after acquiring an additional 571 shares during the last quarter. Emerald Advisers LLC raised its holdings in Cutera by 0.6% during the fourth quarter. Emerald Advisers LLC now owns 158,091 shares of the medical device company’s stock worth $2,691,000 after purchasing an additional 925 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Cutera by 3.2% in the 4th 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. Arizona State Retirement System boosted its position in shares of Cutera by 6.7% in the 4th quarter. Arizona State Retirement System now owns 21,412 shares of the medical device company’s stock worth $364,000 after buying an additional 1,340 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Cutera by 2.5% in the 4th quarter. Two Sigma Advisers LP now owns 55,827 shares of the medical device company’s stock worth $950,000 after buying an additional 1,357 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

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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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Earnings History for Cutera (NASDAQ:CUTR)

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