PROCEPT BioRobotics (NASDAQ:PRCT) Releases Earnings Results, Misses Estimates By $0.01 EPS

PROCEPT BioRobotics (NASDAQ:PRCT) issued its earnings results on Tuesday. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01), Zacks reports. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock traded down $2.44 during mid-day trading on Tuesday, hitting $62.71. 1,560,435 shares of the stock were exchanged, compared to its average volume of 901,199. PROCEPT BioRobotics has a 12 month low of $45.20 and a 12 month high of $103.81. The company has a 50-day simple moving average of $76.05 and a 200 day simple moving average of $80.01. The company has a market capitalization of $3.27 billion, a P/E ratio of -32.16 and a beta of 1.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Morgan Stanley started coverage on PROCEPT BioRobotics in a report on Monday, December 2nd. They set an “overweight” rating and a $105.00 price objective for the company. Finally, Jefferies Financial Group started coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.86.

Insider Activity

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total value of $2,584,668.60. Following the transaction, the chief executive officer now owns 179,185 shares of the company’s stock, valued at $17,529,668.55. The trade was a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,935 shares of company stock valued at $7,882,089 over the last three months. Corporate insiders own 17.40% of the company’s stock.

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).