PROCEPT BioRobotics (NASDAQ:PRCT) Sets New 52-Week Low – Time to Sell?

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) reached a new 52-week low during trading on Tuesday . The stock traded as low as $18.88 and last traded at $19.2550, with a volume of 139255 shares. The stock had previously closed at $21.22.

Analysts Set New Price Targets

PRCT has been the topic of a number of recent research reports. Evercore assumed coverage on shares of PROCEPT BioRobotics in a report on Wednesday, June 24th. They set an “outperform” rating and a $30.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Truist Financial reissued a “hold” rating and set a $25.00 target price (down from $30.00) on shares of PROCEPT BioRobotics in a research report on Thursday, July 2nd. Leerink Partners lowered PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $31.00 to $29.00 in a report on Thursday, June 11th. Finally, Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.27.

PROCEPT BioRobotics Stock Performance

The firm has a 50 day moving average price of $24.70 and a two-hundred day moving average price of $26.55. The company has a market capitalization of $1.06 billion, a P/E ratio of -10.28 and a beta of 0.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. The company had revenue of $83.13 million for the quarter, compared to the consensus estimate of $80.52 million. During the same period in the previous year, the business posted ($0.45) earnings per share. The firm’s revenue was up 20.1% compared to the same quarter last year. On average, research analysts expect that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its position in PROCEPT BioRobotics by 46.6% in the second quarter. Handelsbanken Fonder AB now owns 26,100 shares of the company’s stock valued at $589,000 after buying an additional 8,300 shares in the last quarter. Mirador Capital Partners LP acquired a new position in shares of PROCEPT BioRobotics in the 2nd quarter worth approximately $441,000. Versant Capital Management Inc boosted its holdings in shares of PROCEPT BioRobotics by 994.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock worth $27,000 after acquiring an additional 1,084 shares in the last quarter. Militia Capital Management LLC bought a new stake in PROCEPT BioRobotics during the 1st quarter worth approximately $863,000. Finally, Parallel Advisors LLC increased its holdings in PROCEPT BioRobotics by 445.3% during the 1st quarter. Parallel Advisors LLC now owns 2,950 shares of the company’s stock valued at $74,000 after purchasing an additional 2,409 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.