Analysts Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Price Target at $97.86

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $94.29.

A number of analysts recently commented on the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target for the company. Morgan Stanley dropped their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the sale, the executive vice president now directly owns 52,472 shares in the company, valued at $5,096,605.36. The trade was a 34.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 26,423 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total value of $2,568,844.06. Following the sale, the chief executive officer now owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. This represents a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of large investors have recently made changes to their positions in the company. Values First Advisors Inc. purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at about $32,000. Thematics Asset Management purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at about $46,000. Signaturefd LLC lifted its position in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after buying an additional 145 shares in the last quarter. Finally, IFP Advisors Inc purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at about $58,000. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Down 1.0 %

Shares of NASDAQ PRCT opened at $64.34 on Friday. PROCEPT BioRobotics has a one year low of $45.56 and a one year high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The firm’s 50 day simple moving average is $74.93 and its two-hundred day simple moving average is $79.84. The stock has a market capitalization of $3.36 billion, a P/E ratio of -32.99 and a beta of 1.03.

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

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).