Cutera (CUTR) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Cutera (NASDAQ:CUTR) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

A number of other research analysts have also weighed in on CUTR. BidaskClub raised shares of Cutera from a hold rating to a buy rating in a research note on Saturday, May 4th. ValuEngine lowered shares of Cutera from a hold rating to a sell rating in a research note on Friday, May 10th. Stephens decreased their price target on shares of Cutera from $40.00 to $25.00 and set an overweight rating on the stock in a research note on Thursday, February 21st. They noted that the move was a valuation call. Maxim Group reaffirmed a hold rating on shares of Cutera in a research note on Monday, February 11th. Finally, TheStreet lowered shares of Cutera from a c rating to a d rating in a research note on Thursday, February 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $34.67.

NASDAQ:CUTR opened at $18.18 on Wednesday. Cutera has a 52 week low of $12.32 and a 52 week high of $48.85. 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 issued its quarterly earnings results on Thursday, May 9th. The medical device company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.30). The company had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $33.45 million. Cutera had a negative net margin of 22.45% and a negative return on equity of 65.62%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) earnings per share. As a group, equities research analysts forecast that Cutera will post -0.66 earnings per share for the current year.

In related news, Director J Daniel Plants purchased 7,145 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average cost of $16.95 per share, with a total value of $121,107.75. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUTR. PRW Wealth Management LLC lifted its stake in Cutera by 108.0% in the 1st quarter. PRW Wealth Management LLC now owns 1,951 shares of the medical device company’s stock worth $34,000 after purchasing an additional 1,013 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in Cutera in the 4th quarter worth approximately $35,000. BNP Paribas Arbitrage SA lifted its stake in Cutera by 56,660.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,838 shares of the medical device company’s stock worth $50,000 after purchasing an additional 2,833 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Cutera in the 4th quarter worth approximately $65,000. Finally, Metropolitan Life Insurance Co. NY lifted its stake in Cutera by 359.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,704 shares of the medical device company’s stock worth $80,000 after purchasing an additional 3,680 shares in the last quarter. 91.50% of the stock is currently owned by institutional investors and hedge funds.

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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