State Board of Administration of Florida Retirement System Sells 620 Shares of Cutera, Inc. (NASDAQ:CUTR)

State Board of Administration of Florida Retirement System lessened its stake in shares of Cutera, Inc. (NASDAQ:CUTR – Get Rating) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,764 shares of the medical device company’s stock after selling 620 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Cutera were worth $255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Cutera by 3.4% in the 3rd quarter. BlackRock Inc. now owns 2,683,549 shares of the medical device company’s stock valued at $122,371,000 after purchasing an additional 88,370 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Cutera by 8.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,213,025 shares of the medical device company’s stock valued at $55,314,000 after purchasing an additional 89,675 shares during the last quarter. First Light Asset Management LLC increased its stake in shares of Cutera by 17.9% in the 1st quarter. First Light Asset Management LLC now owns 774,227 shares of the medical device company’s stock valued at $53,422,000 after purchasing an additional 117,354 shares during the last quarter. State Street Corp increased its stake in shares of Cutera by 1.1% in the 3rd quarter. State Street Corp now owns 685,060 shares of the medical device company’s stock valued at $31,239,000 after purchasing an additional 7,237 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of Cutera by 42.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,414 shares of the medical device company’s stock valued at $28,655,000 after purchasing an additional 188,103 shares during the last quarter.

Cutera Stock Performance

Shares of CUTR opened at $16.84 on Monday. The firm has a market capitalization of $333.94 million, a P/E ratio of -3.50 and a beta of 1.56. The company has a debt-to-equity ratio of 19.38, a quick ratio of 3.19 and a current ratio of 3.85. The stock has a 50 day moving average price of $22.56 and a two-hundred day moving average price of $33.22. Cutera, Inc. has a 52 week low of $13.21 and a 52 week high of $54.91.

Cutera (NASDAQ:CUTR – Get Rating) last released its earnings results on Tuesday, May 9th. The medical device company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.96). The business had revenue of $55.00 million during the quarter, compared to the consensus estimate of $59.80 million. Cutera had a negative net margin of 36.98% and a negative return on equity of 489.05%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.84) earnings per share. Equities analysts forecast that Cutera, Inc. will post -3.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. William Blair downgraded Cutera from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. StockNews.com assumed coverage on Cutera in a report on Thursday. They set a “sell” rating on the stock. Piper Sandler assumed coverage on Cutera in a report on Wednesday, May 10th. They set an “underweight” rating and a $14.00 target price on the stock. Maxim Group downgraded Cutera from a “buy” rating to a “hold” rating in a report on Thursday, March 30th. Finally, Stephens reissued an “overweight” rating and issued a $46.00 price objective on shares of Cutera in a research note on Friday, April 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.75.

Cutera Profile

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Cutera, Inc engages in the provision of laser and energy-based aesthetic systems for practitioners. It operates through the following segments: United States, Japan, Asia excluding Japan, Europe, and Rest of the World. Its products include enlighten, excel HR, excel V+, secret Pro, Juliet, secret RF, and xeo.