Ameriprise Financial Inc. raised its stake in shares of Cutera, Inc. (NASDAQ:CUTR) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,600 shares of the medical device company’s stock after purchasing an additional 5,043 shares during the quarter. Ameriprise Financial Inc. owned 0.91% of Cutera worth $5,276,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in Cutera by 0.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock worth $31,456,000 after buying an additional 9,100 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cutera by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 570,948 shares of the medical device company’s stock valued at $14,788,000 after acquiring an additional 18,549 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Cutera during the 2nd quarter valued at $9,426,000. Northern Trust Corp raised its position in shares of Cutera by 20.0% during the 2nd quarter. Northern Trust Corp now owns 208,940 shares of the medical device company’s stock valued at $5,411,000 after acquiring an additional 34,854 shares during the last quarter. Finally, State Street Corp raised its position in shares of Cutera by 12.6% during the 2nd quarter. State Street Corp now owns 203,059 shares of the medical device company’s stock valued at $5,258,000 after acquiring an additional 22,700 shares during the last quarter. 87.64% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Cutera from a “hold” rating to a “sell” rating in a research note on Monday, January 1st. BidaskClub upgraded shares of Cutera from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, Maxim Group reissued a “hold” rating on shares of Cutera in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cutera currently has a consensus rating of “Buy” and an average target price of $37.33.
Shares of Cutera, Inc. (CUTR) opened at $50.35 on Friday. The firm has a market cap of $683.74, a P/E ratio of 64.55, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Cutera, Inc. has a 52-week low of $18.00 and a 52-week high of $50.50.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Tuesday, November 7th. The medical device company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. The company had revenue of $38.17 million for the quarter, compared to analyst estimates of $34.82 million. Cutera had a net margin of 7.99% and a return on equity of 18.73%. Cutera’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. equities research analysts forecast that Cutera, Inc. will post 0.55 earnings per share for the current fiscal year.
In related news, Director Timothy J. Oshea sold 4,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $39.21, for a total transaction of $156,840.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Apfelberg sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $39.90, for a total transaction of $39,900.00. Following the completion of the transaction, the director now owns 10,259 shares in the company, valued at $409,334.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,968 shares of company stock valued at $1,676,086. Insiders own 11.60% of the company’s stock.
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Cutera, Inc is a medical device company. The Company is engaged in the design, development, manufacture, marketing and servicing of laser and other energy-based aesthetics systems for practitioners across the world. The Company offers products based on product platforms, such as enlighten, excel HR, truSculpt, excel V and xeo, each of which enables physicians and other practitioners to perform aesthetic procedures for customers.
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