Strs Ohio Reduces Position in Cutera, Inc. (CUTR)

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Strs Ohio lowered its holdings in shares of Cutera, Inc. (NASDAQ:CUTR) by 30.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 90,000 shares of the medical device company’s stock after selling 38,600 shares during the period. Strs Ohio owned about 0.65% of Cutera worth $2,929,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CUTR. Piedmont Investment Advisors LLC bought a new position in shares of Cutera during the second quarter valued at $128,000. SG Americas Securities LLC bought a new position in shares of Cutera during the second quarter valued at $154,000. United Services Automobile Association bought a new position in shares of Cutera during the second quarter valued at $208,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Cutera by 51.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,300 shares of the medical device company’s stock valued at $266,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Cutera during the first quarter valued at $296,000. 93.36% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CUTR opened at $21.26 on Tuesday. Cutera, Inc. has a twelve month low of $19.11 and a twelve month high of $56.05. The firm has a market cap of $279.23 million, a P/E ratio of 45.86 and a beta of 0.31.

Cutera (NASDAQ:CUTR) last announced its earnings results on Tuesday, August 7th. The medical device company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). Cutera had a return on equity of 10.21% and a net margin of 15.67%. The firm had revenue of $42.55 million for the quarter, compared to the consensus estimate of $41.50 million. On average, analysts expect that Cutera, Inc. will post -0.32 EPS for the current fiscal year.

CUTR has been the subject of several analyst reports. Sidoti set a $50.00 price target on shares of Cutera and gave the company a “buy” rating in a research note on Friday, October 5th. ValuEngine downgraded shares of Cutera from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Stephens lowered their target price on shares of Cutera from $40.00 to $24.94 and set a “sell” rating for the company in a research note on Friday, October 5th. Stifel Nicolaus lowered their target price on shares of Cutera from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, August 8th. Finally, Zacks Investment Research downgraded shares of Cutera from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.24.

In other news, insider James A. Reinstein bought 1,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was acquired at an average price of $32.02 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.

Cutera Company Profile

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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Institutional Ownership by Quarter for Cutera (NASDAQ:CUTR)

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