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

Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT - Free Report) in a research report sent to investors on Thursday, MarketBeat reports. The firm issued a hold rating and a $95.00 price target on the stock.

Other research analysts have also issued reports about the stock. Bank of America raised their price objective 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. TD Cowen increased their price objective 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 target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Truist Financial reiterated a "buy" rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Finally, Piper Sandler restated an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.50.

PROCEPT BioRobotics Stock Down 6.9 %

PROCEPT BioRobotics stock traded down $6.34 during midday trading on Thursday, reaching $85.91. The stock had a trading volume of 959,652 shares, compared to its average volume of 662,116. The company has a fifty day moving average price of $80.53 and a two-hundred day moving average price of $70.96. PROCEPT BioRobotics has a 12 month low of $31.57 and a 12 month high of $103.81. 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 company has a market capitalization of $4.48 billion, a P/E ratio of -45.67 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data 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 return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The company's quarterly revenue was up 66.4% on a year-over-year basis. As a group, equities analysts expect that PROCEPT BioRobotics will post -1.74 EPS for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 13,305 shares of the stock in a transaction 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 sale, the director now owns 317,518 shares in the company, valued at $24,248,849.66. This represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the transaction, the chief executive officer now directly owns 258,445 shares of the company's stock, valued at $23,518,495. This trade represents a 52.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Antal Rohit Desai sold 13,305 shares of the firm's stock in a transaction dated 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 directly owns 317,518 shares in the company, valued at approximately $24,248,849.66. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 535,353 shares of company stock worth $46,627,426. 17.40% of the stock is owned by corporate insiders.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently made changes to their positions in the stock. Values First Advisors Inc. bought a new stake in PROCEPT BioRobotics during the third quarter worth about $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at about $36,000. Quest Partners LLC lifted its position in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company's stock worth $41,000 after buying an additional 648 shares during the last quarter. Canton Hathaway LLC purchased a new stake in PROCEPT BioRobotics in the third quarter worth approximately $66,000. Finally, Nisa Investment Advisors LLC grew its position in PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock valued at $89,000 after acquiring an additional 713 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

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).