PROCEPT BioRobotics (NASDAQ:PRCT) Now Covered by Jefferies Financial Group

Equities researchers at Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a report issued on Thursday, Marketbeat.com reports. The firm set a “hold” rating and a $95.00 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 6.81% from the stock’s previous close.

PRCT has been the subject of several other reports. Truist Financial restated a “buy” rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. TD Cowen lifted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America upped their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

PROCEPT BioRobotics Price Performance

PRCT opened at $88.94 on Thursday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4.64 billion, a P/E ratio of -45.61 and a beta of 1.01. The stock has a 50-day moving average price of $80.97 and a 200-day moving average price of $71.32. PROCEPT BioRobotics has a 12-month low of $31.57 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping 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 firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same period last year, the firm posted ($0.51) earnings per share. The business’s revenue was up 66.4% compared to the same quarter last year. Equities analysts predict that PROCEPT BioRobotics will post -1.74 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares in the company, valued at $23,518,495. The trade was a 52.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $7,928,880.96. This represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 535,353 shares of company stock worth $46,627,426 over the last quarter. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of hedge funds have recently bought and sold shares of the company. M&G Plc bought a new position in shares of PROCEPT BioRobotics in the second quarter worth approximately $8,507,000. Federated Hermes Inc. increased its holdings in shares of PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after purchasing an additional 162,785 shares in the last quarter. Nicholas Investment Partners LP bought a new stake in shares of PROCEPT BioRobotics in the 2nd quarter worth $4,657,000. Vanguard Group Inc. lifted its holdings 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 valued at $209,874,000 after purchasing an additional 62,164 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of PROCEPT BioRobotics by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock valued at $358,000 after buying an additional 570 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).