PROCEPT BioRobotics (NASDAQ:PRCT) Given Buy Rating at Truist Financial

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Truist Financial in a report issued on Wednesday, Benzinga reports. They currently have a $105.00 target price on the stock, up from their previous target price of $95.00. Truist Financial's target price would suggest a potential upside of 12.87% from the stock's current price.

PRCT has been the subject of a number of other reports. Piper Sandler reiterated an "overweight" rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Bank of America upped their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. Finally, TD Cowen upped their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a report on Monday, September 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $88.40.

PROCEPT BioRobotics Stock Performance

Shares of PRCT traded down $3.66 during mid-day trading on Wednesday, hitting $93.03. 2,036,163 shares of the company traded hands, compared to its average volume of 643,891. PROCEPT BioRobotics has a 1 year low of $24.91 and a 1 year high of $99.34. 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 stock has a 50-day moving average price of $77.01 and a two-hundred day moving average price of $67.73. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of -47.09 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.09. The company had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. PROCEPT BioRobotics's revenue was up 66.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) earnings per share. Equities analysts anticipate that PROCEPT BioRobotics will post -1.88 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 25,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were 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 owns 96,096 shares in the company, valued at $7,928,880.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 35,220 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the sale, the director now owns 23,963 shares of the company's stock, valued at approximately $1,824,063.56. 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 available at this link. Also, CFO Kevin Waters sold 25,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $7,928,880.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,892 shares of company stock valued at $13,946,415 over the last ninety days. 17.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in PROCEPT BioRobotics during the 3rd quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in PROCEPT BioRobotics during the second quarter valued at $36,000. Quest Partners LLC boosted its holdings in PROCEPT BioRobotics by 2,492.3% in the second quarter. Quest Partners LLC now owns 674 shares of the company's stock valued at $41,000 after purchasing an additional 648 shares during the last quarter. Nisa Investment Advisors LLC grew its position in PROCEPT BioRobotics by 178.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock worth $89,000 after purchasing an additional 713 shares during the period. Finally, Sentry Investment Management LLC acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth about $120,000. 89.46% of the stock is owned by institutional investors and hedge funds.

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).