PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 6.3% - Time to Buy?

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report)'s share price shot up 6.3% on Monday . The company traded as high as $98.32 and last traded at $98.06. 411,184 shares changed hands during trading, a decline of 37% from the average session volume of 648,707 shares. The stock had previously closed at $92.29.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRCT. Wells Fargo & Company boosted 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. TD Cowen raised 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 reaffirmed a "buy" rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Piper Sandler reiterated an "overweight" rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Finally, Bank of America boosted their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $88.40.

PROCEPT BioRobotics Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.49 and a current ratio of 6.02. The company has a market capitalization of $5.07 billion, a P/E ratio of -49.78 and a beta of 1.00. The firm's fifty day moving average is $78.03 and its 200 day moving average is $68.91.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $53.30 million. During the same period in the prior year, the business posted ($0.51) earnings per share. The company's revenue for the quarter was up 66.4% on a year-over-year basis. As a group, analysts predict that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 258,445 shares of the company's stock, valued at $23,518,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at $6,964,077.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reza Zadno sold 288,461 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 468,353 shares of company stock worth $40,196,366. Insiders own 17.40% of the company's stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors have recently bought and sold shares of the business. Blair William & Co. IL bought a new stake in PROCEPT BioRobotics during the 1st quarter valued at $21,240,000. Chicago Capital LLC purchased a new stake in shares of PROCEPT BioRobotics during the second quarter valued at about $14,233,000. Federated Hermes Inc. grew its position 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 buying an additional 162,785 shares during the last quarter. Transatlantique Private Wealth LLC bought a new position in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $9,164,000. Finally, M&G Plc purchased a new stake in PROCEPT BioRobotics during the second quarter valued at approximately $8,507,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).