PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $89.50.

Several analysts recently commented on PRCT shares. Bank of America increased their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research note on Thursday. They set a “hold” rating and a $95.00 target price for the company. Wells Fargo & Company increased their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. TD Cowen increased their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 13,305 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares in the company, valued at $24,248,849.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares in the company, valued at $7,928,880.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 535,353 shares of company stock worth $46,627,426. 17.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of PROCEPT BioRobotics during the 2nd quarter worth $36,000. Quest Partners LLC increased its stake in shares of PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after purchasing an additional 648 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth $66,000. Finally, Nisa Investment Advisors LLC grew its stake in PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after buying an additional 713 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock traded down $3.86 on Thursday, hitting $88.39. The company had a trading volume of 205,623 shares, compared to its average volume of 658,582. The business has a 50-day simple moving average of $80.53 and a 200-day simple moving average of $70.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The company has a market cap of $4.61 billion, a PE ratio of -45.67 and a beta of 1.01. PROCEPT BioRobotics has a 52 week low of $31.57 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same period in the prior year, the business earned ($0.51) earnings per share. The business’s quarterly revenue was up 66.4% on a year-over-year basis. Research analysts expect that PROCEPT BioRobotics will post -1.74 EPS for the current fiscal year.

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).