PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Average Rating of “Moderate Buy” by Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $97.86.

Several research firms have recently weighed in on PRCT. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price on the stock. Piper Sandler restated an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 price target for the company.

PROCEPT BioRobotics Trading Down 1.7 %

NASDAQ:PRCT opened at $71.25 on Tuesday. The stock has a fifty day simple moving average of $83.92 and a 200 day simple moving average of $79.50. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -36.54 and a beta of 1.03. PROCEPT BioRobotics has a 1-year low of $45.20 and a 1-year high of $103.81. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

Insider Activity at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 34,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the transaction, the director now owns 164,363 shares in the company, valued at $15,678,586.57. This represents a 17.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the transaction, the chief executive officer now owns 205,605 shares in the company, valued at $19,032,854.85. The trade was a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 141,355 shares of company stock worth $13,571,048 over the last three months. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth about $64,000. Hussman Strategic Advisors Inc. bought a new position in PROCEPT BioRobotics during the fourth quarter worth about $1,353,000. New York State Common Retirement Fund increased its holdings in shares of PROCEPT BioRobotics by 30.6% during the 4th quarter. New York State Common Retirement Fund now owns 189,154 shares of the company’s stock worth $15,231,000 after acquiring an additional 44,324 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of PROCEPT BioRobotics by 137.1% during the 4th quarter. Principal Financial Group Inc. now owns 162,713 shares of the company’s stock worth $13,102,000 after buying an additional 94,096 shares during the last quarter. Finally, Americana Partners LLC grew its position in shares of PROCEPT BioRobotics by 26.1% in the fourth quarter. Americana Partners LLC now owns 23,525 shares of the company’s stock valued at $1,894,000 after purchasing an additional 4,875 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

About PROCEPT BioRobotics

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).