PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Stock Has Average Price Target of $25.09

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have received an average rating of “Hold” from the fifteen research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $25.09.

PRCT has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Friday, July 17th. Citigroup cut PROCEPT BioRobotics to a “hold” rating in a report on Thursday, July 2nd. William Blair lowered shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 5th. Wells Fargo & Company cut shares of PROCEPT BioRobotics from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, August 5th. Finally, TD Cowen reduced their target price on shares of PROCEPT BioRobotics from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th.

Insider Buying and Selling

In other news, CEO Larry Wood acquired 23,900 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $20.85 per share, with a total value of $498,315.00. Following the transaction, the chief executive officer directly owned 23,900 shares in the company, valued at approximately $498,315. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,043 shares of company stock valued at $21,851 in the last ninety days. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCT. BlackRock Inc. acquired a new stake in shares of PROCEPT BioRobotics in the second quarter valued at approximately $109,961,000. Wellington Management Group LLP increased its holdings in shares of PROCEPT BioRobotics by 47.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,274,004 shares of the company’s stock worth $28,767,000 after acquiring an additional 412,399 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $24,914,000. Rhenman & Partners Asset Management AB increased its holdings in shares of PROCEPT BioRobotics by 56.7% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 611,000 shares of the company’s stock worth $19,222,000 after acquiring an additional 221,000 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in PROCEPT BioRobotics in the 2nd quarter valued at $16,020,000. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Down 1.7%

NASDAQ PRCT opened at $17.20 on Friday. The stock has a 50-day simple moving average of $19.99 and a 200 day simple moving average of $22.98. The company has a market capitalization of $985.04 million, a PE ratio of -8.87 and a beta of 0.91. The company has a current ratio of 6.55, a quick ratio of 5.35 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics has a 12 month low of $16.67 and a 12 month high of $38.11.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, August 4th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). The company had revenue of $94.50 million during the quarter, compared to analyst estimates of $92.77 million. PROCEPT BioRobotics had a negative net margin of 32.53% and a negative return on equity of 30.62%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) EPS. Research analysts forecast that PROCEPT BioRobotics will post -1.67 EPS for the current year.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for urologic care. The company’s primary focus is the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms.

Its flagship product is the AQUABEAM Robotic System, which uses image guidance, robotics, and high-velocity waterjet technology to remove targeted prostate tissue without the use of a traditional cutting instrument.