PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) - Analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for shares of PROCEPT BioRobotics in a note issued to investors on Monday, October 28th. Leerink Partnrs analyst M. Kratky now expects that the company will post earnings of ($1.76) per share for the year, up from their prior estimate of ($1.89). The consensus estimate for PROCEPT BioRobotics' current full-year earnings is ($1.88) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics' Q4 2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.35) EPS, Q4 2025 earnings at ($0.21) EPS, FY2025 earnings at ($1.25) EPS and FY2026 earnings at ($0.76) EPS.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly 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 58.73% and a negative return on equity of 37.85%. The firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. The business's revenue for the quarter was up 66.4% compared to the same quarter last year.
Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Piper Sandler reissued an "overweight" rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. TD Cowen increased their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Truist Financial reissued a "buy" rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday. Finally, Bank of America increased their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of "Buy" and an average target price of $88.40.
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PROCEPT BioRobotics Stock Performance
Shares of NASDAQ PRCT traded down $3.03 during midday trading on Thursday, hitting $90.00. 1,529,534 shares of the company's stock traded hands, compared to its average volume of 648,089. PROCEPT BioRobotics has a 1 year low of $24.91 and a 1 year high of $99.34. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of -46.02 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The firm has a fifty day moving average of $77.20 and a 200 day moving average of $67.91.
Insiders Place Their Bets
In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 in the company, valued at $23,518,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 288,461 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the sale, the chief executive officer now owns 258,445 shares of the company's stock, valued at approximately $23,518,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 468,353 shares of company stock worth $40,196,366 in the last three months. 17.40% of the stock is owned by company insiders.
Institutional Trading of PROCEPT BioRobotics
A number of hedge funds and other institutional investors have recently bought and sold shares of PRCT. Vanguard Group Inc. boosted its holdings in PROCEPT BioRobotics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company's stock worth $175,376,000 after acquiring an additional 109,694 shares in the last quarter. Diversified Trust Co increased its position in shares of PROCEPT BioRobotics by 25.4% during the first quarter. Diversified Trust Co now owns 13,442 shares of the company's stock worth $664,000 after purchasing an additional 2,725 shares in the last quarter. Principal Financial Group Inc. boosted its stake in PROCEPT BioRobotics by 98.2% during the first quarter. Principal Financial Group Inc. now owns 20,983 shares of the company's stock worth $1,037,000 after buying an additional 10,395 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in PROCEPT BioRobotics during the first quarter worth $307,000. Finally, Essex Investment Management Co. LLC boosted its stake in PROCEPT BioRobotics by 0.6% during the first quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company's stock worth $2,971,000 after buying an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company's stock.
About PROCEPT BioRobotics
(
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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).
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