Cutera (CUTR) Board of Directors Authorizes Stock Buyback Plan

Bruno Cirelli
Agosto 9, 2017

Cutera, Inc. (NASDAQ:CUTR) shares hit a new 52-week high on Tuesday following a stronger than expected earnings report.

CUTR has been the topic of a number of research reports.

Several equities analysts have recently issued reports on CUTR shares. Zacks Investment Research cut Cutera from a "hold" rating to a "sell" rating in a research note on Thursday, May 4th. Sidoti restated a "buy" rating and set a $30.00 price objective (up from $27.00) on shares of Cutera in a report on Saturday, June 3rd. Finally, Roth Capital initiated coverage on Cutera in a research report on Monday, June 26th. The stock has a consensus rating of "Buy" and an average target price of $33.25. Gamco Investors INC. ET AL raised its stake in shares of Cutera by 3.7% in the second quarter. Goldman Sachs Group Inc stated it has 47,153 shares or 0% of all its holdings. Cutera has $3900 highest and $22 lowest target.

The stock's 50 day moving average is 25.87 and its 200 day moving average is 21.85. The company has market cap of $454.74 million. Cutera, Inc. now has an average analyst recommendation of 1.80 according to analysts. The medical device company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.03 by $0.10. The business had revenue of $36.40 million during the quarter, compared to analyst estimates of $32.08 million. Cutera had a net margin of 2.89% and a return on equity of 9.21%. The same analysts have a future one-year price target of $32.33 on the shares. Over the past month the firm's stock is -1.11%, 34.94% for the last quarter, 38.80% for the past six-months and 132.55% for the a year ago. In the latest earnings report the EPS was $0.26 and is estimated to be $0.46 for the current year with 13,858,000 shares now outstanding. The company had a trading volume of 91,084 shares.

COPYRIGHT VIOLATION NOTICE: This article was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another site, it was copied illegally and republished in violation of U.S. and global trademark & copyright law. The legal version of this piece of content can be viewed at https://www.com-unik.info/2017/08/04/cutera-inc-nasdaqcutr-lowered-to-hold-at-bidaskclub.html. Also, EVP Larry Laber sold 6,482 shares of the company's stock in a transaction dated Thursday, May 25th.

In other news, CFO Ronald J. Santilli sold 3,857 shares of the business's stock in a transaction dated Thursday, June 1st. Following the sale, the executive vice president now directly owns 73,140 shares of the company's stock, valued at approximately $1,892,863.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The stock had a trading volume of 431,445 shares. The shares were purchased at an average price of $25.08. Following the transaction, the chief financial officer now directly owns 174,025 shares in the company, valued at approximately $3,478,759.75. The disclosure for this sale can be found here. The Lyon Street Capital Llc holds 605,629 shares with $10.51 million value, down from 663,414 last quarter. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued. That brings the EVP, North America Sales's holdings to $1,804,180 as recorded in a recent Form 4 SEC filing. Metropolitan Life Insurance Co. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Cutera by 2.3% in the first quarter. State Street Corp boosted its stake in Cutera by 1.9% in the fourth quarter. Federated Investors Inc. PA now owns 12,568 shares of the medical device company's stock valued at $218,000 after buying an additional 7,410 shares during the last quarter.

Cutera, Inc., launched on August 10, 1998, is a medical device company. The Firm is engaged in the design, development, manufacture, marketing and servicing of laser and other energy aesthetics systems for practitioners across the world.

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