Voce Capital Management LLC reduced its position in Cutera, Inc. (NASDAQ:CUTR) by 34.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,031 shares of the medical device company’s stock after selling 250,000 shares during the period. Cutera makes up 10.0% of Voce Capital Management LLC’s holdings, making the stock its 2nd largest position. Voce Capital Management LLC owned approximately 3.44% of Cutera worth $9,875,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. increased its stake in shares of Cutera by 55.2% in the first quarter. Russell Investments Group Ltd. now owns 28,406 shares of the medical device company’s stock worth $589,000 after buying an additional 10,107 shares during the period. Acadian Asset Management LLC increased its stake in shares of Cutera by 57.0% in the first quarter. Acadian Asset Management LLC now owns 145,347 shares of the medical device company’s stock valued at $3,009,000 after buying an additional 52,751 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Cutera by 2.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 201,064 shares of the medical device company’s stock valued at $4,162,000 after buying an additional 4,615 shares during the period. Teachers Advisors LLC increased its stake in shares of Cutera by 56.0% in the fourth quarter. Teachers Advisors LLC now owns 38,794 shares of the medical device company’s stock valued at $673,000 after buying an additional 13,923 shares during the period. Finally, Oberweis Asset Management Inc. purchased a new stake in shares of Cutera during the fourth quarter valued at about $376,000. 81.33% of the stock is owned by institutional investors and hedge funds.
Shares of Cutera, Inc. (NASDAQ CUTR) traded up 1.30% during trading on Wednesday, hitting $27.35. 47,876 shares of the stock were exchanged. The firm’s 50 day moving average price is $23.01 and its 200-day moving average price is $20.36. The stock has a market cap of $379.02 million, a P/E ratio of 104.79 and a beta of 0.60. Cutera, Inc. has a 52 week low of $10.43 and a 52 week high of $29.25.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Monday, May 1st. The medical device company reported ($0.07) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.07). The business had revenue of $29.30 million for the quarter, compared to the consensus estimate of $29 million. Cutera had a net margin of 2.89% and a return on equity of 9.21%. The company’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.16) EPS. On average, analysts predict that Cutera, Inc. will post $0.46 EPS for the current year.
A number of equities analysts have recently weighed in on CUTR shares. Sidoti began coverage on shares of Cutera in a research note on Tuesday, April 11th. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research cut shares of Cutera from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. BidaskClub upgraded shares of Cutera from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. TheStreet cut shares of Cutera from a “b-” rating to a “c” rating in a research note on Monday, May 1st. Finally, Roth Capital initiated coverage on shares of Cutera in a research note on Monday, June 26th. They set a “buy” rating and a $32.00 price target for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $28.75.
In other Cutera news, Director David A. Gollnick sold 10,000 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $25.08, for a total transaction of $250,800.00. Following the transaction, the director now owns 26,641 shares in the company, valued at approximately $668,156.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronald J. Santilli sold 60,991 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $19.99, for a total transaction of $1,219,210.09. Following the sale, the chief financial officer now directly owns 174,025 shares of the company’s stock, valued at approximately $3,478,759.75. The disclosure for this sale can be found here. Insiders sold a total of 160,410 shares of company stock worth $3,410,284 over the last ninety days. Insiders own 3.30% of the company’s stock.
Cutera, Inc is a medical device company. The Company is engaged in the design, development, manufacture, marketing and servicing of laser and other energy-based aesthetics systems for practitioners across the world. The Company offers products based on product platforms, such as enlighten, excel HR, truSculpt, excel V and xeo, each of which enables physicians and other practitioners to perform aesthetic procedures for customers.
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