Laurion Capital Management LP acquired a new position in shares of Cutera, Inc. (NASDAQ:CUTR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 19,000 shares of the medical device company’s stock, valued at approximately $766,000.
Other hedge funds have also recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in shares of Cutera during the second quarter worth about $128,000. SG Americas Securities LLC purchased a new position in shares of Cutera during the second quarter worth about $154,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Cutera by 51.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,300 shares of the medical device company’s stock worth $266,000 after purchasing an additional 1,800 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cutera during the first quarter worth about $296,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Cutera during the first quarter worth about $336,000. 93.36% of the stock is currently owned by institutional investors.
NASDAQ CUTR opened at $31.60 on Friday. Cutera, Inc. has a 52-week low of $30.15 and a 52-week high of $56.05. The stock has a market cap of $439.32 million, a P/E ratio of 41.04 and a beta of 0.27.
In related news, insider James A. Reinstein purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were purchased at an average price of $32.02 per share, with a total value of $32,020.00. Following the completion of the acquisition, the insider now directly owns 139,907 shares in the company, valued at approximately $4,479,822.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.
Several equities analysts have issued reports on CUTR shares. BidaskClub lowered Cutera from a “strong-buy” rating to a “buy” rating in a report on Friday, July 27th. Stifel Nicolaus dropped their price objective on Cutera from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, August 8th. ValuEngine lowered Cutera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research lowered Cutera from a “hold” rating to a “sell” rating in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $52.67.
Cutera Company Profile
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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