Zacks Investment Research Upgrades Cutera (NASDAQ:CUTR) to Buy

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Cutera (NASDAQ:CUTR) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $41.00 target price on the medical device company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.57% from the stock’s previous close.

According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “

Separately, Piper Sandler lifted their price target on shares of Cutera from $28.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, February 18th. One research analyst has 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 an average target price of $32.25.

Shares of CUTR traded up $0.39 during trading hours on Tuesday, reaching $37.42. 235,317 shares of the stock traded hands, compared to its average volume of 150,141. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 0.14. Cutera has a 52-week low of $9.07 and a 52-week high of $37.87. The company’s 50-day moving average price is $28.06 and its two-hundred day moving average price is $21.95. The company has a market cap of $659.83 million, a P/E ratio of -20.67 and a beta of 1.60.

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Cutera (NASDAQ:CUTR) last released its earnings results on Tuesday, February 16th. The medical device company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.42. Cutera had a negative net margin of 18.83% and a negative return on equity of 61.21%. On average, research analysts forecast that Cutera will post -1.76 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Vantage Consulting Group Inc bought a new stake in shares of Cutera in the 4th quarter worth about $56,000. BNP Paribas Arbitrage SA grew its holdings in Cutera by 358.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,271 shares of the medical device company’s stock valued at $81,000 after purchasing an additional 3,340 shares during the last quarter. Citigroup Inc. grew its holdings in Cutera by 248.8% during the 4th quarter. Citigroup Inc. now owns 4,193 shares of the medical device company’s stock valued at $101,000 after purchasing an additional 2,991 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in Cutera by 24.3% during the 3rd quarter. State of Tennessee Treasury Department now owns 5,852 shares of the medical device company’s stock valued at $111,000 after purchasing an additional 1,145 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Cutera by 28.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 7,185 shares of the medical device company’s stock valued at $136,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 87.79% of the company’s stock.

About Cutera

Cutera, Inc, a medical device company, engages in the research, development, manufacture, marketing, and servicing of laser and energy-based aesthetics systems for practitioners worldwide. The company offers truSculpt flex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; truSculpt for the non-surgical body sculpting market; Juliet, a laser for women’s intimate health; Secret RF, a fractional radio frequency microneedling device for skin revitalization; and enlighten platform, a laser system that is used for tattoo removal, as well as for the treatment of benign pigmented lesions and acne scars.

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