Zacks Investment Research Upgrades Cutera (NASDAQ:CUTR) to Strong-Buy

Cutera (NASDAQ:CUTR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage presently has a $38.00 price objective on the medical device company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 22.86% from the company’s previous close.

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. “

Other analysts have also recently issued research reports about the stock. ValuEngine raised shares of Cutera from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 10th. BidaskClub raised shares of Cutera from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Finally, Maxim Group reissued a “hold” rating on shares of Cutera in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. Cutera has an average rating of “Buy” and an average price target of $35.50.

NASDAQ CUTR opened at $30.93 on Wednesday. The stock has a market cap of $437.43 million, a P/E ratio of -13.87 and a beta of 0.88. The company’s 50-day simple moving average is $24.70 and its 200 day simple moving average is $19.14. Cutera has a twelve month low of $12.32 and a twelve month high of $35.85. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.20.

Cutera (NASDAQ:CUTR) last posted its earnings results on Thursday, August 8th. The medical device company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.20. The business had revenue of $47.77 million for the quarter, compared to analysts’ expectations of $42.08 million. Cutera had a negative net margin of 20.49% and a negative return on equity of 66.96%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Research analysts anticipate that Cutera will post -0.55 earnings per share for the current year.

In other Cutera news, Director J Daniel Plants bought 14,011 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $16.93 per share, with a total value of $237,206.23. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 42,377 shares of company stock worth $711,717. 2.30% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of CUTR. Paradigm Capital Management Inc. NY grew its stake in Cutera by 96.4% during the first quarter. Paradigm Capital Management Inc. NY now owns 834,500 shares of the medical device company’s stock worth $14,737,000 after buying an additional 409,700 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Cutera during the second quarter worth about $2,860,000. Gamco Investors INC. ET AL grew its stake in Cutera by 11.4% during the first quarter. Gamco Investors INC. ET AL now owns 1,100,801 shares of the medical device company’s stock worth $19,440,000 after buying an additional 112,800 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Cutera during the first quarter worth about $1,949,000. Finally, Assenagon Asset Management S.A. grew its stake in Cutera by 115.4% during the first quarter. Assenagon Asset Management S.A. now owns 159,000 shares of the medical device company’s stock worth $2,808,000 after buying an additional 85,170 shares during the last quarter. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

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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