PROCEPT BioRobotics (NASDAQ:PRCT) Receives Buy Rating from Truist Financial

Truist Financial reiterated their buy rating on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $105.00 target price on the stock, up from their previous target price of $95.00.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company increased their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America increased their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. TD Cowen boosted their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Buy” and a consensus target price of $88.40.

PROCEPT BioRobotics Trading Down 3.8 %

Shares of PROCEPT BioRobotics stock opened at $93.03 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49. The business has a fifty day simple moving average of $77.01 and a two-hundred day simple moving average of $67.73. PROCEPT BioRobotics has a 1 year low of $24.91 and a 1 year high of $99.34. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -47.71 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same quarter last year, the company posted ($0.51) EPS. PROCEPT BioRobotics’s quarterly revenue was up 66.4% compared to the same quarter last year. Research analysts forecast that PROCEPT BioRobotics will post -1.88 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at $6,964,077.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Antal Rohit Desai sold 44,867 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $80.11, for a total value of $3,594,295.37. Following the sale, the director now owns 197,453 shares of the company’s stock, valued at approximately $15,817,959.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,892 shares of company stock valued at $13,946,415 over the last quarter. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently added to or reduced their stakes in PRCT. Vanguard Group Inc. grew its stake in shares of PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after buying an additional 62,164 shares during the last quarter. Bellevue Group AG increased its holdings in PROCEPT BioRobotics by 0.5% in the 1st quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock worth $43,989,000 after purchasing an additional 4,768 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in PROCEPT BioRobotics by 8.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock valued at $31,027,000 after purchasing an additional 51,305 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of PROCEPT BioRobotics during the first quarter valued at about $21,240,000. Finally, Driehaus Capital Management LLC grew its holdings in shares of PROCEPT BioRobotics by 25.9% during the second quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock worth $21,344,000 after purchasing an additional 71,930 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).