Renaissance Technologies LLC Has $40.14 Million Holdings in Cutera, Inc. (CUTR)

Renaissance Technologies LLC trimmed its holdings in shares of Cutera, Inc. (NASDAQ:CUTR) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 995,900 shares of the medical device company’s stock after selling 83,700 shares during the quarter. Renaissance Technologies LLC owned 7.20% of Cutera worth $40,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CUTR. Peregrine Capital Management LLC bought a new position in Cutera during the 2nd quarter valued at about $14,754,000. Eagle Asset Management Inc. bought a new position in Cutera in the 2nd quarter worth about $8,795,000. American Century Companies Inc. bought a new position in Cutera in the 2nd quarter worth about $5,701,000. Cortina Asset Management LLC grew its stake in Cutera by 59.2% in the 2nd quarter. Cortina Asset Management LLC now owns 264,282 shares of the medical device company’s stock worth $10,651,000 after acquiring an additional 98,260 shares in the last quarter. Finally, TD Asset Management Inc. bought a new position in Cutera in the 2nd quarter worth about $3,299,000. Hedge funds and other institutional investors own 93.36% of the company’s stock.

NASDAQ:CUTR opened at $21.44 on Tuesday. Cutera, Inc. has a 52 week low of $20.75 and a 52 week high of $56.05. The company has a market cap of $450.39 million, a P/E ratio of 27.84 and a beta of 0.31.

Cutera (NASDAQ:CUTR) last posted its quarterly earnings results on Tuesday, August 7th. The medical device company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.06). The company had revenue of $42.55 million during the quarter, compared to analysts’ expectations of $41.50 million. Cutera had a return on equity of 10.21% and a net margin of 15.67%. As a group, equities analysts forecast that Cutera, Inc. will post -0.16 EPS for the current fiscal year.

In related news, insider James A. Reinstein purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was acquired at an average price of $32.02 per share, with a total value of $32,020.00. Following the completion of the acquisition, the insider now owns 139,907 shares in the company, valued at approximately $4,479,822.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

CUTR has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Cutera from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Stifel Nicolaus dropped their price objective on shares of Cutera from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, August 8th. Zacks Investment Research downgraded shares of Cutera from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Stephens dropped their price objective on shares of Cutera from $40.00 to $24.94 and set a “sell” rating on the stock in a research note on Friday. Finally, Sidoti set a $50.00 price objective on shares of Cutera and gave the company a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $39.24.

Cutera Company Profile

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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Institutional Ownership by Quarter for Cutera (NASDAQ:CUTR)

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