Analysts Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) PT at $89.50

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $89.50.

Several analysts recently commented on the stock. TD Cowen raised their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America raised their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $90.98 on Thursday. The firm has a market capitalization of $4.75 billion, a PE ratio of -46.66 and a beta of 1.01. The stock’s 50 day moving average is $80.97 and its two-hundred day moving average is $71.53. PROCEPT BioRobotics has a twelve month low of $31.57 and a twelve month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $53.30 million. During the same quarter in the prior year, the company posted ($0.51) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 66.4% on a year-over-year basis. Research analysts anticipate that PROCEPT BioRobotics will post -1.74 earnings per share for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 35,220 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. This represents a 52.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 535,353 shares of company stock valued at $46,627,426 in the last quarter. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors have recently bought and sold shares of PRCT. Westfield Capital Management Co. LP acquired a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $72,563,000. Blair William & Co. IL purchased a new stake in shares of PROCEPT BioRobotics in the first quarter worth about $21,240,000. Chicago Capital LLC acquired a new stake in shares of PROCEPT BioRobotics in the second quarter valued at about $14,233,000. Federated Hermes Inc. raised its holdings in shares of PROCEPT BioRobotics by 788.9% during the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after buying an additional 162,785 shares during the period. Finally, Transatlantique Private Wealth LLC acquired a new position in PROCEPT BioRobotics during the 2nd quarter worth approximately $9,164,000. 89.46% of the stock is currently 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).