In a report released today, Anthony Vendetti from Maxim Group maintained a Hold rating on Cutera (NASDAQ: CUTR). The company’s shares closed yesterday at $29.78, close to its 52-week low of $29.15.
Vendetti observed:
“Market close, CUTR reported preliminary 3Q18 revenue below both our estimate and consensus. The company also reduced 2018 revenue guidance to well below our prior estimate, which was already lower than CUTR’s previous guidance from 2/13/2018. As a result, we are decreasing our 2018, 2019, and 2020 estimates. There is an analyst day on October 9, and full 3Q18 results are scheduled to be released on Market close.”
According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 13.5% and a 57.6% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cutera with a $50 average price target.
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Based on Cutera’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.57 million. In comparison, last year the company had a net profit of $6.19 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CUTR in relation to earlier this year.
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Cutera, Inc. is a global medical device company, which engages in the design, development, manufacture, marketing and servicing of laser and other energy based aesthetics systems for practitioners. Its products include Enlighten, TruSculpt, Excel HR, Excel V, and Xeo.
