PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $73.2222.

Several research firms recently issued reports on PRCT. Stephens initiated coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an “overweight” rating and a $70.00 price target for the company. Morgan Stanley dropped their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, July 15th. Wells Fargo & Company decreased their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Piper Sandler dropped their price objective on PROCEPT BioRobotics from $80.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Finally, Oppenheimer raised PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Tuesday, September 2nd.

PROCEPT BioRobotics Stock Up 1.5%

Shares of PRCT stock opened at $39.52 on Wednesday. PROCEPT BioRobotics has a one year low of $37.12 and a one year high of $103.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86. The stock has a fifty day moving average price of $48.03 and a 200 day moving average price of $54.28. The stock has a market cap of $2.20 billion, a P/E ratio of -25.50 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. The company had revenue of $79.18 million during the quarter, compared to analysts’ expectations of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The business’s revenue was up 48.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.50) EPS. Analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the transaction, the director directly owned 14,363 shares in the company, valued at $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PRCT. Ensign Peak Advisors Inc grew its position in PROCEPT BioRobotics by 1.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company’s stock worth $1,141,000 after acquiring an additional 150 shares during the last quarter. Advisory Services Network LLC boosted its stake in PROCEPT BioRobotics by 1.3% in the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock worth $1,158,000 after purchasing an additional 250 shares in the last quarter. Vega Investment Solutions grew its holdings in shares of PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after purchasing an additional 265 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of PROCEPT BioRobotics by 32.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company’s stock valued at $64,000 after buying an additional 270 shares in the last quarter. Finally, RiverPark Advisors LLC raised its holdings in shares of PROCEPT BioRobotics by 22.5% in the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock valued at $101,000 after buying an additional 324 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

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).