PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $97.86.

Several equities analysts have recently issued reports on PRCT shares. Piper Sandler restated an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target for the company. TD Cowen lifted their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Morgan Stanley started coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price on the stock. Finally, 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 research report on Thursday, August 22nd.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $94.84 on Monday. The company has a 50 day moving average of $85.56 and a two-hundred day moving average of $74.75. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a twelve month low of $36.99 and a twelve month high of $103.81. The company has a market cap of $4.95 billion, a price-to-earnings ratio of -48.64 and a beta of 0.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its 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 return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same period in the previous year, the business earned ($0.51) EPS. The firm’s revenue for the quarter was up 66.4% on a year-over-year basis. As a group, analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 26,420 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total transaction of $2,584,668.60. Following the sale, the chief executive officer now owns 179,185 shares of the company’s stock, valued at $17,529,668.55. This trade represents a 12.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the transaction, the executive vice president now owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 594,183 shares of company stock worth $53,258,164 over the last three months. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently modified their holdings of PRCT. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics in the 3rd quarter worth about $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of PROCEPT BioRobotics in the second quarter valued at approximately $36,000. Quest Partners LLC raised its stake in shares of PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at approximately $64,000. Finally, Canton Hathaway LLC acquired a new stake in PROCEPT BioRobotics in the 3rd quarter valued at $66,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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).