PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $97.86.

Several brokerages have commented on PRCT. Piper Sandler reiterated an "overweight" rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. TD Cowen upped their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a "hold" rating and a $95.00 target price for the company. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a report on Monday, December 2nd. They issued an "overweight" rating and a $105.00 price target for the company. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd.

PROCEPT BioRobotics Price Performance

PRCT stock traded down $1.45 during trading on Monday, hitting $93.39. The company had a trading volume of 430,449 shares, compared to its average volume of 651,893. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The firm has a 50-day moving average price of $85.56 and a 200-day moving average price of $74.75. PROCEPT BioRobotics has a 12 month low of $36.99 and a 12 month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $58.40 million during the quarter, compared to analysts' expectations of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. PROCEPT BioRobotics's revenue was up 66.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) EPS. As a group, equities analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the transaction, the executive vice president now directly owns 52,472 shares of the company's stock, valued at $5,096,605.36. This represents a 34.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $6,964,077.12. This represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 594,183 shares of company stock valued at $53,258,164 in the last three months. 17.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PRCT. Values First Advisors Inc. acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $36,000. Quest Partners LLC boosted its position in shares of PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company's stock worth $41,000 after acquiring an additional 648 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $64,000. Finally, Canton Hathaway LLC acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 89.46% of the company's stock.

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).