William Blair Initiates Coverage of Cutera With Market Perform Recommendation

On January 31, 2023, William Blair initiated coverage of Cutera with a Market Perform recommendation.

Analyst Price Forecast Suggests 64.58% Upside

As of February 1, 2023, the average one-year price target for Cutera is $57.32. The forecasts range from a low of $33.33 to a high of $73.50. The average price target represents an increase of 64.58% from its latest reported closing price of $34.83.

The projected annual revenue for Cutera is $319MM, an increase of 27.40%. The projected annual EPS is -$0.42.

What are large shareholders doing?

Rtw Investments holds 1,770,400 shares representing 9.03% ownership of the company. No change in the last quarter.

Millennium Management holds 1,551,447 shares representing 7.91% ownership of the company. In it’s prior filing, the firm reported owning 1,412,942 shares, representing an increase of 8.93%. The firm increased its portfolio allocation in CUTR by 27.27% over the last quarter.

IJR – iShares Core S&P Small-Cap ETF holds 1,304,460 shares representing 6.65% ownership of the company. In it’s prior filing, the firm reported owning 1,150,910 shares, representing an increase of 11.77%. The firm increased its portfolio allocation in CUTR by 39.88% over the last quarter.

Voce Capital Management holds 1,210,224 shares representing 6.17% ownership of the company. No change in the last quarter.

Gamco Investors, Inc. Et Al holds 1,066,130 shares representing 5.44% ownership of the company. In it’s prior filing, the firm reported owning 1,077,975 shares, representing a decrease of 1.11%. The firm increased its portfolio allocation in CUTR by 29.17% over the last quarter.

Fund Sentiment

There are 410 funds or institutions reporting positions in Cutera. This is a decrease of 14 owner(s) or 3.30%.

Average portfolio weight of all funds dedicated to US:CUTR is 0.2960%, an increase of 35.0082%. Total shares owned by institutions decreased in the last three months by 0.88% to 28,928K shares.

Cutera Background Information
(This description is provided by the company.)

Brisbane, California-based Cutera is a leading provider of laser and other energy-based aesthetic systems for practitioners worldwide. Since 1998, Cutera has been developing innovative, easy-to-use products that enable physicians and other qualified practitioners to offer safe and effective aesthetic treatments to their patients.

This article originally appeared on Fintel

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