Cutera (NASDAQ:CUTR) Shares Gap Up to $37.15

Cutera, Inc. (NASDAQ:CUTR)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $37.15, but opened at $38.18. Cutera shares last traded at $37.46, with a volume of 217 shares traded.

Several research firms have recently commented on CUTR. Maxim Group raised shares of Cutera from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday, November 4th. Zacks Investment Research raised shares of Cutera from a “sell” rating to a “hold” rating in a research report on Monday, December 13th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Cutera currently has a consensus rating of “Buy” and an average price target of $62.31.

The firm has a market capitalization of $665.96 million, a PE ratio of 90.44 and a beta of 1.61. The firm’s fifty day moving average is $39.10 and its two-hundred day moving average is $44.97. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.83 and a quick ratio of 3.27.

Cutera (NASDAQ:CUTR) last released its quarterly earnings results on Wednesday, November 3rd. The medical device company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.11). The firm had revenue of $57.38 million for the quarter, compared to analysts’ expectations of $50.90 million. Cutera had a return on equity of 15.80% and a net margin of 3.80%. During the same quarter last year, the firm posted ($0.13) earnings per share. As a group, equities research analysts predict that Cutera, Inc. will post 0.02 EPS for the current fiscal year.

In other news, CEO David H. Mowry bought 2,784 shares of the firm’s stock in a transaction that occurred on Wednesday, December 1st. The shares were acquired at an average price of $35.91 per share, with a total value of $99,973.44. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rohan Seth bought 1,174 shares of the firm’s stock in a transaction that occurred on Tuesday, December 14th. The shares were purchased at an average cost of $35.38 per share, for a total transaction of $41,536.12. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,182 shares of company stock worth $292,805 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of CUTR. RTW Investments LP bought a new stake in Cutera during the 2nd quarter worth approximately $35,342,000. Millennium Management LLC increased its holdings in Cutera by 711.5% during the 3rd quarter. Millennium Management LLC now owns 425,230 shares of the medical device company’s stock worth $19,816,000 after acquiring an additional 372,828 shares during the period. Bank of Montreal Can increased its holdings in shares of Cutera by 555.3% in the 2nd quarter. Bank of Montreal Can now owns 344,840 shares of the medical device company’s stock worth $17,059,000 after buying an additional 292,216 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Cutera by 2,725.4% in the 2nd quarter. Royal Bank of Canada now owns 138,192 shares of the medical device company’s stock worth $6,776,000 after buying an additional 133,301 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Cutera by 135.9% in the 2nd quarter. Invesco Ltd. now owns 220,926 shares of the medical device company’s stock worth $10,832,000 after buying an additional 127,269 shares during the last quarter.

About Cutera (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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