PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $94.29.

Several equities analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and set a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday. Morgan Stanley cut their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the transaction, the executive vice president now owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reza Zadno sold 26,423 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total value of $2,568,844.06. Following the transaction, the chief executive officer now directly owns 152,762 shares in the company, valued at $14,851,521.64. The trade was a 14.75 % decrease in their position. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of PROCEPT BioRobotics by 19.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,391 shares of the company’s stock worth $11,224,000 after purchasing an additional 22,931 shares during the last quarter. Voloridge Investment Management LLC raised its stake in PROCEPT BioRobotics by 60.4% in the fourth quarter. Voloridge Investment Management LLC now owns 454,374 shares of the company’s stock valued at $36,586,000 after buying an additional 171,029 shares during the last quarter. Two Sigma Advisers LP raised its stake in PROCEPT BioRobotics by 237.1% in the fourth quarter. Two Sigma Advisers LP now owns 90,000 shares of the company’s stock valued at $7,247,000 after buying an additional 63,300 shares during the last quarter. Two Sigma Investments LP raised its stake in PROCEPT BioRobotics by 91.0% in the fourth quarter. Two Sigma Investments LP now owns 353,716 shares of the company’s stock valued at $28,481,000 after buying an additional 168,505 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC raised its stake in PROCEPT BioRobotics by 1.6% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 551,767 shares of the company’s stock valued at $44,428,000 after buying an additional 8,721 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Down 1.0 %

Shares of PRCT opened at $64.34 on Friday. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -32.99 and a beta of 1.03. PROCEPT BioRobotics has a 1 year low of $45.56 and a 1 year high of $103.81. The business’s 50 day simple moving average is $74.93 and its 200-day simple moving average is $79.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, equities analysts expect that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

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).