Cutera (NASDAQ:CUTR) Shares Gap Up to $43.52

Cutera, Inc. (NASDAQ:CUTR) gapped up before the market opened on Thursday . The stock had previously closed at $43.52, but opened at $45.62. Cutera shares last traded at $43.88, with a volume of 361 shares traded.

CUTR has been the topic of several research reports. Zacks Investment Research downgraded shares of Cutera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 6th. Cantor Fitzgerald upped their price target on shares of Cutera from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. TheStreet raised Cutera from a “d” rating to a “c+” rating in a report on Thursday, August 5th. Finally, Piper Sandler boosted their price objective on Cutera from $42.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, August 5th. They noted that the move was a valuation call.

The stock has a market capitalization of $791.42 million, a P/E ratio of 120.89 and a beta of 1.63. The company has a current ratio of 3.95, a quick ratio of 3.38 and a debt-to-equity ratio of 2.51. The company has a fifty day simple moving average of $48.37 and a two-hundred day simple moving average of $42.82.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings results on Wednesday, August 4th. The medical device company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.49. The company had revenue of $58.59 million during the quarter, compared to analysts’ expectations of $50.15 million. Cutera had a return on equity of 14.36% and a net margin of 3.71%. As a group, analysts forecast that Cutera, Inc. will post 0.17 earnings per share for the current fiscal year.

In other Cutera news, Director Joseph E. Whitters acquired 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 9th. The stock was acquired at an average cost of $53.89 per share, for a total transaction of $80,835.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director J Daniel Plants acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 13th. The stock was acquired at an average price of $49.99 per share, with a total value of $49,990.00. Following the completion of the transaction, the director now directly owns 28,105 shares in the company, valued at approximately $1,404,968.95. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,500 shares of company stock valued at $178,815. 2.10% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC boosted its position in Cutera by 7.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,878 shares of the medical device company’s stock worth $1,563,000 after acquiring an additional 2,107 shares during the last quarter. Morgan Stanley boosted its position in Cutera by 195.8% during the 2nd quarter. Morgan Stanley now owns 131,373 shares of the medical device company’s stock worth $6,442,000 after acquiring an additional 86,964 shares during the last quarter. Jefferies Group LLC acquired a new stake in shares of Cutera in the 2nd quarter valued at approximately $2,885,000. Wells Fargo & Company MN boosted its holdings in shares of Cutera by 152.0% in the 2nd quarter. Wells Fargo & Company MN now owns 73,642 shares of the medical device company’s stock valued at $3,611,000 after buying an additional 44,423 shares during the last quarter. Finally, Zebra Capital Management LLC acquired a new stake in shares of Cutera in the 2nd quarter valued at approximately $240,000.

Cutera Company Profile (NASDAQ:CUTR)

Cutera, Inc engages in the provision of laser and energy-based aesthetic systems for practitioners. It operates through the following segments: United States, Japan, Asia excluding Japan, Europe, and Rest of the World. Its products include enlighten, excel HR, excel V+, secret Pro, Juliet, secret RF, and xeo.

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