Truist Financial Issues Pessimistic Forecast for PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price

PROCEPT BioRobotics (NASDAQ:PRCT - Free Report) had its target price trimmed by Truist Financial from $90.00 to $70.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Morgan Stanley reduced their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.43.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT traded down $0.60 during trading hours on Friday, hitting $52.32. 441,567 shares of the stock were exchanged, compared to its average volume of 777,452. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics has a one year low of $47.04 and a one year high of $103.81. The company's 50 day moving average is $60.08 and its 200 day moving average is $75.17. The firm has a market capitalization of $2.87 billion, a P/E ratio of -26.83 and a beta of 1.09.

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

Insider Activity at PROCEPT BioRobotics

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

Institutional Trading of PROCEPT BioRobotics

Institutional investors and hedge funds have recently bought and sold shares of the business. Raleigh Capital Management Inc. acquired a new stake in PROCEPT BioRobotics in the 4th quarter worth about $32,000. Thematics Asset Management acquired a new stake in PROCEPT BioRobotics during the fourth quarter worth approximately $46,000. Signaturefd LLC raised its holdings in PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after acquiring an additional 145 shares in the last quarter. IFP Advisors Inc bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at $58,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth $64,000. 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).