Cutera (NASDAQ:CUTR) Price Target Lowered to $5.00 at Stephens

Cutera (NASDAQ:CUTR) had its price target reduced by investment analysts at Stephens from $10.00 to $5.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical device company’s stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Cutera to a “sell” rating in a research report on Friday, May 10th. Piper Sandler reaffirmed a “neutral” rating and set a $1.00 target price (down from $3.00) on shares of Cutera in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.33.

Cutera Stock Performance

Shares of NASDAQ CUTR traded down $0.30 during mid-day trading on Friday, reaching $0.82. The company’s stock had a trading volume of 1,567,539 shares, compared to its average volume of 1,151,706. The stock has a 50-day moving average of $1.55 and a two-hundred day moving average of $2.00. The stock has a market capitalization of $16.47 million, a P/E ratio of -0.12 and a beta of 1.32. Cutera has a 1-year low of $0.73 and a 1-year high of $14.58.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Thursday, May 9th. The medical device company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.05). The company had revenue of $38.79 million during the quarter, compared to analysts’ expectations of $37.17 million. During the same quarter last year, the firm posted ($1.26) EPS. Analysts predict that Cutera will post -5.88 EPS for the current fiscal year.

Insider Activity

In related news, EVP Michael Karavitis sold 10,848 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $2.45, for a total transaction of $26,577.60. Following the completion of the sale, the executive vice president now directly owns 52,755 shares of the company’s stock, valued at approximately $129,249.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Cutera

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Cutera during the fourth quarter worth $43,000. Federated Hermes Inc. boosted its holdings in Cutera by 38.8% during the 4th quarter. Federated Hermes Inc. now owns 148,559 shares of the medical device company’s stock valued at $524,000 after acquiring an additional 41,500 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Cutera in the 4th quarter valued at about $102,000. Tower Research Capital LLC TRC increased its stake in Cutera by 112.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,363 shares of the medical device company’s stock worth $29,000 after purchasing an additional 4,430 shares during the period. Finally, Findell Capital Management LLC acquired a new stake in shares of Cutera during the fourth quarter worth about $39,000. 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.