Essex Investment Management Co. LLC lowered its position in Cutera Inc. (NASDAQ:CUTR) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,575 shares of the medical device company’s stock after selling 733 shares during the period. Essex Investment Management Co. LLC’s holdings in Cutera were worth $746,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Cutera by 77.7% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 227,992 shares of the medical device company’s stock valued at $2,556,000 after buying an additional 99,667 shares during the period. Renaissance Technologies LLC increased its stake in shares of Cutera by 8.2% in the first quarter. Renaissance Technologies LLC now owns 1,074,900 shares of the medical device company’s stock valued at $12,093,000 after buying an additional 81,069 shares during the period. Palisade Capital Management LLC NJ acquired a new stake in shares of Cutera during the first quarter valued at about $830,000. Spark Investment Management LLC increased its stake in shares of Cutera by 70.0% in the first quarter. Spark Investment Management LLC now owns 69,000 shares of the medical device company’s stock valued at $776,000 after buying an additional 28,400 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Cutera by 75,216.7% in the first quarter. Royal Bank of Canada now owns 22,595 shares of the medical device company’s stock valued at $254,000 after buying an additional 22,565 shares during the period. 79.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cutera Inc. (NASDAQ:CUTR) traded up 4.45% during trading on Wednesday, hitting $12.67. 38,502 shares of the company traded hands. The stock’s market cap is $165.84 million. The firm has a 50 day moving average price of $11.29 and a 200-day moving average price of $11.07. Cutera Inc. has a one year low of $9.83 and a one year high of $15.10.
Cutera (NASDAQ:CUTR) last released its quarterly earnings results on Monday, August 1st. The medical device company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.08. Cutera had a negative net margin of 2.12% and a negative return on equity of 0.38%. The company had revenue of $27.50 million for the quarter, compared to analyst estimates of $26.20 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. Analysts predict that Cutera Inc. will post ($0.02) EPS for the current year.
Separately, Zacks Investment Research raised shares of Cutera from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th.
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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