Leerink Partnrs Equities Analysts Reduce Earnings Estimates for PROCEPT BioRobotics Co. (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Equities research analysts at Leerink Partnrs reduced their Q2 2024 earnings per share estimates for shares of PROCEPT BioRobotics in a report issued on Wednesday, May 1st. Leerink Partnrs analyst M. Kratky now expects that the company will earn ($0.56) per share for the quarter, down from their previous estimate of ($0.50). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.96) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at ($2.00) EPS, Q1 2025 earnings at ($0.62) EPS, Q2 2025 earnings at ($0.45) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($1.49) EPS, FY2026 earnings at ($0.89) EPS and FY2027 earnings at ($0.31) EPS.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.04. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The company had revenue of $44.50 million during the quarter, compared to the consensus estimate of $41.58 million. During the same quarter in the prior year, the company earned ($0.63) EPS. The firm’s quarterly revenue was up 82.4% compared to the same quarter last year.

Several other brokerages also recently commented on PRCT. TD Cowen raised their target price on PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial raised their target price on PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised their target price on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Finally, Piper Sandler raised their price target on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Monday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Buy” and a consensus price target of $61.20.

PROCEPT BioRobotics Stock Down 4.5 %

Shares of NASDAQ PRCT opened at $61.43 on Monday. PROCEPT BioRobotics has a 52 week low of $24.83 and a 52 week high of $65.00. The business has a 50-day simple moving average of $50.51 and a two-hundred day simple moving average of $44.06. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.16 billion, a P/E ratio of -28.98 and a beta of 0.95.

Institutional Investors Weigh In On PROCEPT BioRobotics

Hedge funds have recently added to or reduced their stakes in the stock. Fairman Group LLC bought a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at $84,000. Blue Trust Inc. increased its position in PROCEPT BioRobotics by 30.9% in the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after buying an additional 620 shares in the last quarter. Glass Jacobson Investment Advisors llc purchased a new stake in PROCEPT BioRobotics in the fourth quarter worth about $138,000. Amalgamated Bank grew its position in shares of PROCEPT BioRobotics by 8.8% during the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after purchasing an additional 442 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth about $201,000. 89.46% of the stock is owned by institutional investors.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Thomas M. Krummel sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. Following the completion of the transaction, the director now directly owns 45,631 shares of the company’s stock, valued at $2,737,860. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 904 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total value of $45,200.00. Following the sale, the chief financial officer now directly owns 33,523 shares of the company’s stock, valued at $1,676,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas M. Krummel sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. Following the completion of the sale, the director now directly owns 45,631 shares in the company, valued at $2,737,860. The disclosure for this sale can be found here. Insiders have sold a total of 144,581 shares of company stock valued at $7,770,023 in the last 90 days. Corporate insiders own 19.60% 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).