Cutera, Inc. (NASDAQ:CUTR – Get Rating) shot up 6.4% on Friday . The company traded as high as $46.35 and last traded at $46.12. 10,166 shares were traded during mid-day trading, a decline of 96% from the average session volume of 272,935 shares. The stock had previously closed at $43.34.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CUTR. Piper Sandler lowered their price target on Cutera from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, August 5th. TheStreet downgraded Cutera from a "c-" rating to a "d+" rating in a research note on Thursday, July 7th. StockNews.com upgraded Cutera to a "sell" rating in a research note on Friday, September 2nd. Finally, Maxim Group restated a "buy" rating and set a $80.00 price objective on shares of Cutera in a research note on Friday, August 5th.
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Cutera Stock Performance
The stock has a market capitalization of $903.03 million, a P/E ratio of -12.38 and a beta of 1.84. The stock has a 50 day moving average of $47.51 and a 200 day moving average of $49.36. The company has a debt-to-equity ratio of 12.56, a quick ratio of 3.83 and a current ratio of 4.36.
Cutera (NASDAQ:CUTR – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The medical device company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). Cutera had a negative return on equity of 151.43% and a negative net
margin of 27.62%. The business had revenue of $64.22 million for the quarter, compared to analyst estimates of $63.42 million. During the same quarter last year, the firm posted $0.39 EPS. The company's revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Cutera, Inc. will post -1.88 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Prelude Capital Management LLC boosted its position in Cutera by 19,653.8% during the 2nd quarter. Prelude Capital Management LLC now owns 908,475 shares of the medical device company's stock worth $1,173,000 after acquiring an additional 903,876 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Cutera in the second quarter valued at $883,000. Goldman Sachs Group Inc. lifted its holdings in shares of Cutera by 2.5% in the second quarter. Goldman Sachs Group Inc. now owns 32,473 shares of the medical device company's stock valued at $1,218,000 after buying an additional 778 shares during the period. Jane Street Group LLC lifted its holdings in shares of Cutera by 105.4% in the second quarter. Jane Street Group LLC now owns 30,124 shares of the medical device company's stock valued at $1,129,000 after buying an additional 15,457 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Cutera by 22.1% in the second quarter. Thrivent Financial for Lutherans now owns 16,238 shares of the medical device company's stock valued at $609,000 after buying an additional 2,935 shares during the period.
About Cutera
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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.
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