Leerink Partnrs Has Bullish Outlook for PRCT FY2024 Earnings

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) - Equities researchers at Leerink Partnrs raised their FY2024 earnings per share estimates for PROCEPT BioRobotics in a report released on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings per share of ($1.74) for the year, up from their prior estimate of ($1.76). The consensus estimate for PROCEPT BioRobotics' current full-year earnings is ($1.74) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics' Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.33) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.27) EPS, Q4 2025 earnings at ($0.17) EPS, FY2025 earnings at ($1.06) EPS, FY2026 earnings at ($0.59) EPS and FY2027 earnings at ($0.30) EPS.

Several other research firms have also recently issued reports on PRCT. Truist Financial reaffirmed a "buy" rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Bank of America lifted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. TD Cowen increased their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a report on Monday, September 16th. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a "hold" rating and a $95.00 target price on the stock. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.50.

PROCEPT BioRobotics Stock Down 2.0 %

NASDAQ PRCT traded down $1.98 on Wednesday, hitting $97.29. 519,390 shares of the stock were exchanged, compared to its average volume of 656,404. PROCEPT BioRobotics has a fifty-two week low of $33.45 and a fifty-two week high of $103.81. The company has a 50-day moving average price of $83.12 and a 200-day moving average price of $73.12. 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 $5.08 billion, a PE ratio of -50.08 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million during the quarter, compared to analysts' expectations of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business's quarterly revenue was up 66.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) EPS.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares in the company, valued at approximately $23,518,495. The trade was a 52.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai sold 35,220 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 $1,824,063.56. This trade represents a 59.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,773 shares of company stock valued at $49,073,125 in the last three months. 17.40% of the stock is currently owned by company insiders.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCT. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics in the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in PROCEPT BioRobotics in the 2nd quarter valued at $36,000. Quest Partners LLC grew its position in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company's stock valued at $41,000 after buying an additional 648 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in PROCEPT BioRobotics in the 3rd quarter valued at $64,000. Finally, Canton Hathaway LLC purchased a new position in PROCEPT BioRobotics during the 3rd quarter worth $66,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).