Cutera (NASDAQ:CUTR) Posts Earnings Results, Misses Estimates By $0.01 EPS

Posted by Martin Roberts on Aug 5th, 2022

Cutera (NASDAQ:CUTR – Get Rating) posted its quarterly earnings data on Thursday. The medical device company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01), Briefing.com reports. The company had revenue of $64.22 million for the quarter, compared to analysts’ expectations of $63.42 million. Cutera had a negative return on equity of 24.42% and a negative net margin of 5.31%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. Cutera updated its FY 2022 guidance to EPS.

Cutera Stock Performance

Shares of NASDAQ:CUTR traded up $0.37 during midday trading on Friday, hitting $48.74. The stock had a trading volume of 519,911 shares, compared to its average volume of 375,295. The company has a market capitalization of $885.26 million, a PE ratio of -64.99 and a beta of 1.86. The stock has a 50 day moving average price of $41.57 and a two-hundred day moving average price of $46.38. The company has a current ratio of 3.20, a quick ratio of 2.50 and a debt-to-equity ratio of 3.12. Cutera has a 1 year low of $31.62 and a 1 year high of $74.38.

Wall Street Analyst Weigh In

CUTR has been the subject of several recent research reports. Stephens raised their price target on shares of Cutera from $68.00 to $78.00 in a research report on Monday, May 9th. StockNews.com cut shares of Cutera from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Piper Sandler decreased their price target on shares of Cutera from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday. TheStreet cut shares of Cutera from a “c-” rating to a “d+” rating in a research report on Thursday, July 7th. Finally, Maxim Group raised their price target on shares of Cutera from $60.00 to $80.00 in a research report on Thursday, May 5th.

Insider Activity

In other news, CEO David H. Mowry bought 996 shares of the stock in a transaction dated Friday, May 13th. The shares were acquired at an average price of $50.12 per share, with a total value of $49,919.52. Following the completion of the acquisition, the chief executive officer now directly owns 131,779 shares in the company, valued at $6,604,763.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Cutera

Several hedge funds and other institutional investors have recently bought and sold shares of CUTR. Captrust Financial Advisors raised its holdings in shares of Cutera by 592.2% in the first quarter. Captrust Financial Advisors now owns 533 shares of the medical device company’s stock worth $37,000 after acquiring an additional 456 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Cutera in the first quarter worth $266,000. MetLife Investment Management LLC raised its holdings in shares of Cutera by 54.6% in the first quarter. MetLife Investment Management LLC now owns 10,424 shares of the medical device company’s stock worth $719,000 after acquiring an additional 3,680 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Cutera in the first quarter worth $745,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Cutera by 35.5% in the first quarter. Hsbc Holdings PLC now owns 12,414 shares of the medical device company’s stock worth $841,000 after acquiring an additional 3,254 shares during the last quarter.

Cutera Company Profile

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Cutera, Inc, a medical device company, researches, develops, manufactures, markets, and services laser and energy-based aesthetics systems for practitioners worldwide. The company offers Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truSculpt flex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; excel V+, a vascular and benign pigmented lesion treatment platform; truSculpt iD, for the non-surgical body sculpting market; and Secret RF, a fractional RF microneedling system for tissue coagulation and hemostasis.