Cutera downgraded to Hold from Buy at Maxim

Maxim analyst Anthony Vendetti downgraded Cutera to Hold from Buy. The current macro trends, specifically higher interest rates, are putting pressure on the aesthetic industry and the appetite for capital equipment purchases, which are usually financed, the analyst tells investors in a research note. The firm further cites the company’s delayed 10-K filing due to two material weaknesses identified by auditors and missed filing within the 15 days of the March 1, 2023, filing deadline, noting that the delay is taking longer than originally anticipated.