Short Interest in Cutera, Inc. (CUTR) Grows By 33.4%

Cutera, Inc. (NASDAQ:CUTR) was the recipient of a significant increase in short interest in December. As of December 29th, there was short interest totalling 681,844 shares, an increase of 33.4% from the December 15th total of 511,315 shares. Approximately 5.1% of the company’s stock are sold short. Based on an average daily trading volume, of 212,563 shares, the days-to-cover ratio is currently 3.2 days.

Shares of Cutera (CUTR) opened at $50.35 on Friday. The company has a market cap of $683.74, a price-to-earnings ratio of 64.55, a PEG ratio of 1.47 and a beta of 0.52. Cutera has a 1 year low of $18.00 and a 1 year high of $50.50.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Tuesday, November 7th. The medical device company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.34. The business had revenue of $38.17 million for the quarter, compared to analyst estimates of $34.82 million. Cutera had a net margin of 7.99% and a return on equity of 18.73%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. equities analysts anticipate that Cutera will post 0.55 earnings per share for the current fiscal year.

A number of analysts have recently commented on the stock. BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered shares of Cutera from a “hold” rating to a “sell” rating in a research report on Monday, January 1st. Finally, Maxim Group reissued a “hold” rating on shares of Cutera in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $37.33.

In other Cutera news, Director Timothy J. Oshea sold 4,000 shares of Cutera stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $39.21, for a total value of $156,840.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James A. Reinstein sold 7,175 shares of Cutera stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $45.35, for a total transaction of $325,386.25. Following the completion of the transaction, the insider now directly owns 132,284 shares in the company, valued at approximately $5,999,079.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,968 shares of company stock worth $1,676,086. Insiders own 11.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC bought a new stake in Cutera during the third quarter worth $117,000. Legal & General Group Plc raised its position in Cutera by 69.6% during the third quarter. Legal & General Group Plc now owns 3,600 shares of the medical device company’s stock worth $149,000 after acquiring an additional 1,477 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in Cutera during the third quarter worth $210,000. Dynamic Technology Lab Private Ltd bought a new stake in Cutera during the third quarter worth $264,000. Finally, Mackenzie Financial Corp bought a new stake in Cutera during the third quarter worth $277,000. 87.64% of the stock is currently owned by institutional investors and hedge funds.

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Cutera Company Profile

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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