Shares of Cutera, Inc. (NASDAQ:CUTR) reached a new 52-week low on Friday after Stephens lowered their price target on the stock from $40.00 to $24.94. Stephens currently has a sell rating on the stock. Cutera traded as low as $22.41 and last traded at $22.55, with a volume of 24549 shares trading hands. The stock had previously closed at $29.78.

CUTR has been the topic of a number of other research reports. Stifel Nicolaus lowered their target price on Cutera from $45.00 to $29.00 and set a “hold” rating on the stock in a research note on Friday. Zacks Investment Research downgraded Cutera from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. ValuEngine downgraded Cutera from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, BidaskClub downgraded Cutera from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $39.24.

In related news, insider James A. Reinstein bought 1,000 shares of the stock in a transaction dated Wednesday, August 29th. The shares were purchased at an average price of $32.02 per share, for a total transaction of $32,020.00. Following the completion of the purchase, the insider now directly owns 139,907 shares of the company’s stock, valued at $4,479,822.14. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Cutera by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 188,029 shares of the medical device company’s stock worth $9,449,000 after purchasing an additional 17,855 shares in the last quarter. Principal Financial Group Inc. boosted its position in Cutera by 2.7% during the first quarter. Principal Financial Group Inc. now owns 110,252 shares of the medical device company’s stock worth $5,540,000 after purchasing an additional 2,896 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in Cutera during the first quarter worth approximately $3,280,000. Old Mutual Global Investors UK Ltd. purchased a new position in Cutera during the first quarter worth approximately $1,622,000. Finally, Acuta Capital Partners LLC purchased a new position in Cutera during the first quarter worth approximately $3,518,000. Hedge funds and other institutional investors own 93.36% of the company’s stock.

The stock has a market capitalization of $450.39 million, a PE ratio of 28.60 and a beta of 0.31.

Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Tuesday, August 7th. The medical device company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The business 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%. Sell-side analysts expect that Cutera, Inc. will post -0.16 earnings per share for the current year.

Cutera Company Profile (NASDAQ:CUTR)

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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