PROCEPT BioRobotics (NASDAQ:PRCT) Sets New 1-Year Low – Time to Sell?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $17.93 and last traded at $17.9250, with a volume of 221922 shares trading hands. The stock had previously closed at $18.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PRCT shares. Wall Street Zen raised PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Piper Sandler reiterated an “overweight” rating and set a $35.00 price objective (up from $28.00) on shares of PROCEPT BioRobotics in a research report on Thursday, April 30th. Evercore assumed coverage on PROCEPT BioRobotics in a report on Wednesday, June 24th. They set an “outperform” rating and a $30.00 price objective on the stock. Citigroup downgraded PROCEPT BioRobotics to a “hold” rating in a research report on Thursday, July 2nd. Finally, Truist Financial reaffirmed a “hold” rating and issued a $25.00 target price (down from $30.00) on shares of PROCEPT BioRobotics in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, PROCEPT BioRobotics has an average rating of “Hold” and a consensus target price of $37.27.

PROCEPT BioRobotics Trading Down 3.5%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The firm has a 50-day moving average of $23.87 and a 200-day moving average of $26.00. The firm has a market capitalization of $1.02 billion, a P/E ratio of -9.82 and a beta of 0.87.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The company had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.45) EPS. On average, equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in PROCEPT BioRobotics by 7.3% in the 1st quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock worth $1,101,000 after buying an additional 1,286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of PROCEPT BioRobotics by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after buying an additional 13,767 shares during the period. Intech Investment Management LLC lifted its position in shares of PROCEPT BioRobotics by 54.4% in the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock worth $1,654,000 after purchasing an additional 10,002 shares during the period. Prudential Financial Inc. raised its stake in PROCEPT BioRobotics by 100.4% in the second quarter. Prudential Financial Inc. now owns 6,815 shares of the company’s stock worth $393,000 after buying an additional 3,415 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of PROCEPT BioRobotics by 6.9% in the 2nd quarter. State Street Corp now owns 1,269,110 shares of the company’s stock valued at $73,101,000 after purchasing an additional 81,849 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.