PROCEPT BioRobotics (NASDAQ:PRCT) Releases Earnings Results, Beats Estimates By $0.09 EPS

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09, Briefing.com reports. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same period last year, the company posted ($0.51) EPS. The business's quarterly revenue was up 66.4% on a year-over-year basis. PROCEPT BioRobotics updated its FY 2024 guidance to EPS.

PROCEPT BioRobotics Stock Up 6.3 %

PROCEPT BioRobotics stock traded up $5.69 during midday trading on Tuesday, reaching $96.69. The stock had a trading volume of 2,154,783 shares, compared to its average volume of 637,228. The company has a market capitalization of $5.02 billion, a P/E ratio of -46.43 and a beta of 1.03. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics has a 12 month low of $24.83 and a 12 month high of $97.15. The company has a fifty day moving average price of $76.37 and a two-hundred day moving average price of $67.41.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PRCT. Bank of America lifted their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Truist Financial lifted their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. TD Cowen boosted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics has an average rating of "Buy" and an average target price of $86.40.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at approximately $6,964,077.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the completion of the transaction, the director now owns 197,453 shares in the company, valued at approximately $15,817,959.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,892 shares of company stock worth $13,946,415. Insiders own 17.40% of the company's stock.

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).