Cutera Inc. [CUTR] stock Resumed by Stephens analyst, price target now $78

Cutera Inc. [NASDAQ: CUTR] price plunged by -4.83 percent to reach at -$2.4. The company report on December 8, 2022 that Cutera, Inc. Announces Pricing of Offering of $100 Million of Convertible Senior Notes.


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Cutera, Inc. (Nasdaq: CUTR) (“Cutera” or the “Company”), a leading provider of aesthetic and dermatology solutions, today announced the pricing of $100 million aggregate principal amount of 4.00% convertible senior notes due 2029 (the “notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Cutera also granted the initial purchasers of the notes an option to purchase up to an additional $20 million aggregate principal amount of the notes. The sale of the notes is expected to close on December 12, 2022, subject to customary closing conditions.

The notes will be general senior, unsecured obligations of Cutera, and will bear interest at a rate of 4.00% per year. Interest will be payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2023. The notes will mature on June 1, 2029, unless earlier converted, repurchased or redeemed. The initial conversion rate will be 17.1378 shares of Cutera’s common stock (“common stock”) per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $58.35 per share of common stock). The initial conversion price of the notes represents a premium of approximately 17.50% over the last reported sale price of Cutera’s common stock on Nasdaq Global Select Market on December 7, 2022. The notes will be convertible into cash, shares of Cutera’s common stock or a combination of cash and shares of Cutera’s common stock, at Cutera’s election.

A sum of 2269895 shares traded at recent session while its average daily volume was at 291.02K shares. Cutera Inc. shares reached a high of $47.87 and dropped to a low of $43.00 until finishing in the latest session at $47.26.

The one-year CUTR stock forecast points to a potential upside of 35.79. The average equity rating for CUTR stock is currently 1.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Cutera Inc. [CUTR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CUTR shares is $73.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CUTR stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for Cutera Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 14, 2022. The new note on the price target was released on November 04, 2021, representing the official price target for Cutera Inc. stock. Previously, the target price had yet another raise to $55, while Cantor Fitzgerald analysts kept a Overweight rating on CUTR stock. On May 05, 2020, analysts decreased their price target for CUTR shares from 32 to 26.

The Average True Range (ATR) for Cutera Inc. is set at 2.82, with the Price to Sales ratio for CUTR stock in the period of the last 12 months amounting to 3.60. The Price to Book ratio for the last quarter was 59.82, with the Price to Cash per share for the same quarter was set at 13.12.

CUTR Stock Performance Analysis:

Cutera Inc. [CUTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.42. With this latest performance, CUTR shares gained by 10.34% in over the last four-week period, additionally plugging by 7.02% over the last 6 months – not to mention a rise of 18.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CUTR stock in for the last two-week period is set at 53.03, with the RSI for the last a single of trading hit 51.78, and the three-weeks RSI is set at 52.63 for Cutera Inc. [CUTR]. The present Moving Average for the last 50 days of trading for this stock 45.59, while it was recorded at 49.98 for the last single week of trading, and 47.93 for the last 200 days.

Insight into Cutera Inc. Fundamentals:

Cutera Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.70.

CUTR Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CUTR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cutera Inc. go to 25.00%.

Cutera Inc. [CUTR] Insider Position Details

There are presently around $1,200 million, in the hands of institutional investors. The top three institutional holders of CUTR stocks are: BLACKROCK INC. with ownership of 2,683,549, which is approximately 3.405% of the company’s market cap and around 2.00% of the total institutional ownership; RTW INVESTMENTS, LP, holding 1,770,400 shares of the stock with an approximate value of $83.67 million in CUTR stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $73.32 million in CUTR stock with ownership of nearly 9.803% of the company’s market capitalization.

102 institutional holders increased their position in Cutera Inc. [NASDAQ:CUTR] by around 2,802,356 shares. Additionally, 75 investors decreased positions by around 2,898,858 shares, while 30 investors held positions by with 19,682,810 shares. The mentioned changes placed institutional holdings at 25,384,024 shares, according to the latest SEC report filing. CUTR stock had 30 new institutional investments in for a total of 774,311 shares, while 21 institutional investors sold positions of 380,703 shares during the same period.

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