PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $91.43 Average Price Target from Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $91.43.

PRCT has been the topic of several research reports. Truist Financial reduced their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Morgan Stanley cut their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th.

PROCEPT BioRobotics Price Performance

PRCT traded up $0.22 on Friday, hitting $53.03. 868,416 shares of the company's stock traded hands, compared to its average volume of 780,689. PROCEPT BioRobotics has a one year low of $47.04 and a one year 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 firm has a market cap of $2.91 billion, a price-to-earnings ratio of -27.19 and a beta of 1.09. The company's 50 day simple moving average is $59.41 and its 200-day simple moving average is $74.83.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $68.24 million during the quarter, compared to analysts' expectations of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. As a group, research analysts anticipate that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kevin Waters sold 733 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,455 shares of company stock worth $368,322. Corporate insiders own 17.40% of the company's stock.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRCT. Signaturefd LLC grew its stake in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after buying an additional 145 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in PROCEPT BioRobotics by 1.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock valued at $1,141,000 after acquiring an additional 150 shares during the period. Naviter Wealth LLC grew its position in PROCEPT BioRobotics by 6.0% in the 4th quarter. Naviter Wealth LLC now owns 3,089 shares of the company's stock valued at $249,000 after acquiring an additional 176 shares during the last quarter. Amundi increased its stake in PROCEPT BioRobotics by 0.9% in the fourth quarter. Amundi now owns 20,143 shares of the company's stock worth $1,742,000 after purchasing an additional 183 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of PROCEPT BioRobotics by 1.5% during the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company's stock worth $1,150,000 after purchasing an additional 218 shares during the last quarter. 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).