Laurion Capital Management LP Invests $766,000 in Cutera, Inc. (CUTR) Stock

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Laurion Capital Management LP purchased a new stake in shares of Cutera, Inc. (NASDAQ:CUTR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,000 shares of the medical device company’s stock, valued at approximately $766,000. Laurion Capital Management LP owned about 0.14% of Cutera at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CUTR. BlueMountain Capital Management LLC raised its position in Cutera by 44.8% in the 2nd quarter. BlueMountain Capital Management LLC now owns 9,139 shares of the medical device company’s stock valued at $368,000 after purchasing an additional 2,828 shares during the last quarter. Teton Advisors Inc. raised its position in Cutera by 14.2% in the 2nd quarter. Teton Advisors Inc. now owns 352,796 shares of the medical device company’s stock valued at $14,218,000 after purchasing an additional 43,796 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Cutera by 3.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 591,800 shares of the medical device company’s stock valued at $23,850,000 after purchasing an additional 19,337 shares during the last quarter. Gabelli Funds LLC raised its position in Cutera by 9.2% in the 2nd quarter. Gabelli Funds LLC now owns 408,500 shares of the medical device company’s stock valued at $16,463,000 after purchasing an additional 34,500 shares during the last quarter. Finally, Cortina Asset Management LLC increased its stake in Cutera by 59.2% in the 2nd quarter. Cortina Asset Management LLC now owns 264,282 shares of the medical device company’s stock valued at $10,651,000 after buying an additional 98,260 shares during the period. Institutional investors and hedge funds own 93.36% of the company’s stock.

NASDAQ:CUTR opened at $21.44 on Tuesday. The stock has a market capitalization of $450.39 million, a price-to-earnings ratio of 27.84 and a beta of 0.31. Cutera, Inc. has a 12-month low of $20.75 and a 12-month high of $56.05.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Tuesday, August 7th. The medical device company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.06). The company had revenue of $42.55 million for the quarter, compared to analysts’ expectations of $41.50 million. Cutera had a return on equity of 10.21% and a net margin of 15.67%. As a group, equities research analysts predict that Cutera, Inc. will post -0.16 earnings per share for the current year.

In other Cutera news, insider James A. Reinstein bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was purchased at an average price of $32.02 per share, with a total value of $32,020.00. Following the transaction, the insider now owns 139,907 shares in the company, valued at $4,479,822.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on the stock. BidaskClub cut shares of Cutera from a “buy” rating to a “hold” rating in a research note on Thursday, September 20th. ValuEngine cut shares of Cutera from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Stifel Nicolaus lowered their price target on shares of Cutera from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, August 8th. Zacks Investment Research cut shares of Cutera from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Finally, Stephens lowered their price objective on shares of Cutera from $40.00 to $24.94 and set a “sell” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Cutera currently has an average rating of “Hold” and an average price target of $39.24.

Cutera 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.

Read More: How to calculate the intrinsic value of a stock

Institutional Ownership by Quarter for Cutera (NASDAQ:CUTR)

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