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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $94.29.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Morgan Stanley cut their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $57.03 on Wednesday. PROCEPT BioRobotics has a 12 month low of $45.56 and a 12 month high of $103.81. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -29.25 and a beta of 1.05. The company’s 50 day moving average is $68.87 and its two-hundred day moving average is $78.75. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRCT. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at $32,000. Thematics Asset Management bought a new stake in PROCEPT BioRobotics in the fourth quarter worth $46,000. Signaturefd LLC lifted its position in PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after buying an additional 145 shares during the last quarter. IFP Advisors Inc bought a new stake in PROCEPT BioRobotics in the fourth quarter worth $58,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in PROCEPT BioRobotics in the third quarter worth $64,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).