Cutera Inc. [NASDAQ: CUTR] price plunged by -28.19 percent to reach at -$7.63. The company report on April 12, 2023 that RTW Investments, LP Issues Statement Regarding Cutera’s Special Meeting of Stockholders.
RTW Investments Supports Good Corporate Governance Requests the Board continue with the Special Meeting.
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RTW Investments, LP (“RTW”), which manages funds holding approximately 9.3% of the outstanding shares of Cutera, Inc. (the “Company”) (Nasdaq: CUTR), today announced that it was in favor of the Company holding the previously-called Special Meeting of Stockholders (the “Special Meeting”) for the purpose of reconstituting the Board of Directors (the “Board”) of the Company. RTW is concerned about the events that have transpired at the Company this past week, particularly with respect to the Board’s removal of David Mowry as the Chief Executive Officer (“CEO”) of the Company on April 11, 2023.
A sum of 6329751 shares traded at recent session while its average daily volume was at 548.24K shares. Cutera Inc. shares reached a high of $23.63 and dropped to a low of $18.4701 until finishing in the latest session at $19.44.
The one-year CUTR stock forecast points to a potential upside of 59.92. The average equity rating for CUTR stock is currently 2.20, 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 $48.50 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 2.20. 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.
Maxim Group have made an estimate for Cutera Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 30, 2023. While these analysts kept the previous recommendation, William Blair raised their target price to Mkt Perform. The new note on the price target was released on January 31, 2023, representing the official price target for Cutera Inc. stock. Previously, the target price had yet another drop from $85 to $33, while Cantor Fitzgerald kept a Neutral rating on CUTR stock. On December 28, 2022, analysts decreased their price target for CUTR shares from 78 to 68.
The Average True Range (ATR) for Cutera Inc. is set at 2.26, with the Price to Sales ratio for CUTR stock in the period of the last 12 months amounting to 1.49. The Price to Book ratio for the last quarter was 24.61, with the Price to Cash per share for the same quarter was set at 12.99.
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 -15.66. With this latest performance, CUTR shares dropped by -33.61% in over the last four-week period, additionally sinking by -57.72% over the last 6 months – not to mention a drop of -70.37% 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 31.70, with the RSI for the last a single of trading hit 30.24, and the three-weeks RSI is set at 33.04 for Cutera Inc. [CUTR]. The present Moving Average for the last 50 days of trading for this stock 29.80, while it was recorded at 23.43 for the last single week of trading, and 40.49 for the last 200 days.
Insight into Cutera Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Cutera Inc. [CUTR] shares currently have an operating margin of -10.73 and a Gross Margin at +55.40. Cutera Inc.’s Net Margin is presently recorded at -32.62.
Return on Total Capital for CUTR is now -8.69, given the latest momentum, and Return on Invested Capital for the company is -26.66. Return on Equity for this stock declined to -397.89, with Return on Assets sitting at -20.55. Additionally, CUTR Total Debt to Total Capital is recorded at 103.65, with Total Debt to Total Assets ending up at 82.65.
Receivables Turnover for the company is 6.55 with a Total Asset Turnover recorded at a value of 0.63.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 $690 million, in the hands of institutional investors. The top three institutional holders of CUTR stocks are: BLACKROCK INC. with ownership of 2,749,472, which is approximately 2.457% of the company’s market cap and around 1.10% of the total institutional ownership; RTW INVESTMENTS, LP, holding 1,798,675 shares of the stock with an approximate value of $48.69 million in CUTR stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $40.34 million in CUTR stock with ownership of nearly -3.956% of the company’s market capitalization.
Positions in Cutera Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 87 institutional holders increased their position in Cutera Inc. [NASDAQ:CUTR] by around 2,787,043 shares. Additionally, 86 investors decreased positions by around 2,635,700 shares, while 35 investors held positions by with 20,066,437 shares. The mentioned changes placed institutional holdings at 25,489,180 shares, according to the latest SEC report filing. CUTR stock had 27 new institutional investments in for a total of 1,431,769 shares, while 27 institutional investors sold positions of 812,479 shares during the same period.