Cutera (NASDAQ:CUTR) Given Neutral Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Cutera (NASDAQ:CUTR) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $1.00 price objective on the medical device company’s stock, down from their prior price objective of $3.00.

CUTR has been the subject of a number of other reports. Stephens reissued an overweight rating and issued a $10.00 price objective on shares of Cutera in a research note on Tuesday, June 25th. StockNews.com raised shares of Cutera to a sell rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $5.33.

Cutera Stock Performance

Shares of Cutera stock traded down $0.36 on Friday, hitting $0.76. 2,215,425 shares of the company’s stock were exchanged, compared to its average volume of 1,156,802. Cutera has a 1 year low of $0.73 and a 1 year high of $14.58. The company has a 50-day simple moving average of $1.52 and a 200-day simple moving average of $1.98. The stock has a market capitalization of $15.28 million, a PE ratio of -0.11 and a beta of 1.32.

Cutera (NASDAQ:CUTR) last released its earnings results on Thursday, May 9th. The medical device company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.05). The company had revenue of $38.79 million during the quarter, compared to the consensus estimate of $37.17 million. During the same quarter in the previous year, the business earned ($1.26) EPS. On average, analysts expect that Cutera will post -5.88 EPS for the current fiscal year.

Insider Buying and Selling at Cutera

In related news, EVP Michael Karavitis sold 24,940 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $2.59, for a total value of $64,594.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by company insiders.

Institutional Trading of Cutera

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ground Swell Capital LLC bought a new position in Cutera during the 2nd quarter valued at about $37,000. Bayesian Capital Management LP bought a new position in shares of Cutera during the first quarter valued at approximately $33,000. BNP Paribas Financial Markets raised its holdings in shares of Cutera by 7.1% in the first quarter. BNP Paribas Financial Markets now owns 75,833 shares of the medical device company’s stock worth $111,000 after buying an additional 5,017 shares during the period. McAdam LLC purchased a new stake in shares of Cutera in the first quarter worth approximately $45,000. Finally, Opti Capital Management LP bought a new stake in shares of Cutera during the 4th quarter worth approximately $1,755,000,000. Hedge funds and other institutional investors own 90.70% of the company’s stock.

Cutera Company Profile

Cutera, Inc provides aesthetic and dermatology solutions for medical practitioners worldwide. It develops, manufactures, and markets energy-based product platforms for medical practitioners; and distributes third-party manufactured skincare products. The company provides AviClear for the treatment of mild, moderate, and severe inflammatory acne vulgaris; Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truFlex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; and excel V+, a vascular and benign pigmented lesion treatment platform.