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

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) has earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $90.00.

A number of equities research analysts have commented on PRCT shares. Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Bank of America lowered their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a report on Saturday, May 24th.

PROCEPT BioRobotics Trading Up 1.4%

Shares of NASDAQ:PRCT opened at $59.00 on Friday. PROCEPT BioRobotics has a 52 week low of $47.04 and a 52 week high of $103.81. The company’s 50 day moving average is $57.84 and its two-hundred day moving average is $63.92. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.26 billion, a PE ratio of -34.71 and a beta of 1.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 36.20% and a negative return on equity of 28.09%. The company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. During the same period in the prior year, the firm posted ($0.51) EPS. The company’s quarterly revenue was up 55.5% compared to the same quarter last year. Equities analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the sale, the director owned 14,363 shares in the company, valued at $883,180.87. This represents a 63.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 100,000 shares of company stock worth $6,271,250. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of PROCEPT BioRobotics

A number of large investors have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares during the period. Ensign Peak Advisors Inc raised 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 buying an additional 150 shares during the last quarter. Naviter Wealth LLC raised its position in PROCEPT BioRobotics by 6.0% during the 4th quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock worth $249,000 after buying an additional 176 shares during the last quarter. Amundi raised its position in PROCEPT BioRobotics by 0.9% during the 4th quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after buying an additional 183 shares during the last quarter. Finally, Arizona State Retirement System raised its position in PROCEPT BioRobotics by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock worth $1,150,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds 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).