PROCEPT BioRobotics (NASDAQ:PRCT) Shares Gap Up – Still a Buy?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) gapped up prior to trading on Thursday . The stock had previously closed at $21.71, but opened at $24.08. PROCEPT BioRobotics shares last traded at $22.9860, with a volume of 594,120 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRCT. TD Cowen decreased their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Robert W. Baird began coverage on PROCEPT BioRobotics in a research report on Friday, March 6th. They set a “neutral” rating and a $30.00 target price for the company. Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. Finally, Truist Financial decreased their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of “Hold” and an average price target of $41.45.

PROCEPT BioRobotics Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The company has a market cap of $1.40 billion, a P/E ratio of -13.53 and a beta of 0.83. The firm has a 50 day moving average price of $25.18 and a two-hundred day moving average price of $29.52.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results 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 firm had revenue of $83.13 million for the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.16% and a negative net margin of 31.82%.The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.45) EPS. On average, analysts predict that PROCEPT BioRobotics Corporation will post -1.58 EPS for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 6,892 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $163,340.40. Following the completion of the transaction, the executive vice president owned 114,264 shares in the company, valued at approximately $2,708,056.80. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai bought 167,246 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was bought at an average price of $25.58 per share, with a total value of $4,278,152.68. Following the purchase, the director owned 167,246 shares in the company, valued at $4,278,152.68. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new position in PROCEPT BioRobotics in the 1st quarter worth about $994,000. Hsbc Holdings PLC bought a new position in PROCEPT BioRobotics in the 1st quarter worth about $8,495,000. Taylor Frigon Capital Management LLC boosted its stake in PROCEPT BioRobotics by 23.2% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 88,708 shares of the company’s stock worth $2,219,000 after purchasing an additional 16,697 shares during the period. Pictet Asset Management Holding SA boosted its stake in PROCEPT BioRobotics by 21.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 9,230 shares of the company’s stock worth $231,000 after purchasing an additional 1,626 shares during the period. Finally, Cache Advisors LLC bought a new position in PROCEPT BioRobotics in the 1st quarter worth about $42,000. Institutional investors own 89.46% of the company’s stock.

About PROCEPT BioRobotics

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.