PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $94.29.

Several analysts recently commented on the stock. Morgan Stanley cut their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company restated an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Finally, Truist Financial restated a “buy” rating and set a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors have recently made changes to their positions in the business. Raleigh Capital Management Inc. bought a new position in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $32,000. Thematics Asset Management bought a new position in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $46,000. Signaturefd LLC lifted its stake in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares during the period. IFP Advisors Inc bought a new position in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $58,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in PROCEPT BioRobotics during the 3rd quarter worth approximately $64,000. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $57.03 on Wednesday. PROCEPT BioRobotics has a one year low of $45.56 and a one year high of $103.81. The company’s 50-day moving average is $68.87 and its 200 day moving average is $78.75. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -29.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $66.79 million. Sell-side 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).