Piper Sandler Reaffirms “Neutral” Rating for Cutera (NASDAQ:CUTR)

Cutera (NASDAQ:CUTR)‘s stock had its “neutral” rating reissued by research analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They currently have a $1.00 price objective on the medical device company’s stock, down from their previous price objective of $3.00. Piper Sandler’s price objective points to a potential upside of 31.56% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Stephens reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Cutera in a research report on Tuesday, June 25th. StockNews.com raised Cutera to a “sell” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.33.

Cutera Stock Performance

Shares of NASDAQ:CUTR traded down $0.36 during midday trading on Friday, hitting $0.76. The company’s stock had a trading volume of 2,215,425 shares, compared to its average volume of 1,156,802. The stock has a market capitalization of $15.28 million, a price-to-earnings ratio of -0.11 and a beta of 1.32. The stock’s 50 day simple moving average is $1.52 and its 200 day simple moving average is $1.98. Cutera has a fifty-two week low of $0.73 and a fifty-two week high of $14.58.

Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Thursday, May 9th. The medical device company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.05). The firm had revenue of $38.79 million during the quarter, compared to the consensus estimate of $37.17 million. During the same quarter in the prior year, the company posted ($1.26) earnings per share. As a group, analysts anticipate that Cutera will post -5.88 EPS for the current year.

Insider Activity at Cutera

In related news, EVP Michael Karavitis sold 24,940 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $2.59, for a total value of $64,594.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cutera

Several hedge funds have recently made changes to their positions in the stock. Findell Capital Management LLC bought a new position in Cutera during the fourth quarter worth about $39,000. Opti Capital Management LP bought a new position in Cutera during the fourth quarter worth about $1,755,000,000. Federated Hermes Inc. lifted its stake in Cutera by 38.8% during the fourth quarter. Federated Hermes Inc. now owns 148,559 shares of the medical device company’s stock worth $524,000 after purchasing an additional 41,500 shares during the period. McAdam LLC bought a new position in Cutera during the first quarter worth about $45,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Cutera during the fourth quarter worth about $102,000. 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.