PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $89.50.

A number of equities research analysts have recently weighed in on PRCT shares. TD Cowen boosted their price objective 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. Bank of America increased their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a research note on Thursday. They issued a "hold" rating and a $95.00 target price on the stock. Piper Sandler reissued an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd.

PROCEPT BioRobotics Price Performance

NASDAQ:PRCT traded down $6.34 during mid-day trading on Thursday, hitting $85.91. 959,672 shares of the stock traded hands, compared to its average volume of 662,116. The business's 50-day moving average price is $80.53 and its 200 day moving average price is $70.96. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The company has a market cap of $4.48 billion, a PE ratio of -44.06 and a beta of 1.01. PROCEPT BioRobotics has a 12-month low of $31.57 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released 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 net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million for the quarter, compared to analysts' expectations of $53.30 million. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The business's quarterly revenue was up 66.4% on a year-over-year basis. On average, analysts expect that PROCEPT BioRobotics will post -1.74 EPS for the current fiscal year.

Insider Activity

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 35,220 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. The trade was a 59.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the transaction, the chief executive officer now owns 258,445 shares in the company, valued at approximately $23,518,495. This trade represents a 52.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 535,353 shares of company stock valued at $46,627,426 over the last ninety days. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Westfield Capital Management Co. LP purchased a new position in shares of PROCEPT BioRobotics in the third quarter worth approximately $72,563,000. Blair William & Co. IL bought a new stake in shares of PROCEPT BioRobotics during the 1st quarter valued at $21,240,000. Chicago Capital LLC purchased a new stake in shares of PROCEPT BioRobotics in the 2nd quarter worth $14,233,000. Federated Hermes Inc. increased its stake 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 purchasing an additional 162,785 shares in the last quarter. Finally, Transatlantique Private Wealth LLC bought a new position in PROCEPT BioRobotics in the 2nd quarter worth $9,164,000. Hedge funds and other institutional investors own 89.46% 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).