PROCEPT BioRobotics’ (PRCT) “Buy” Rating Reaffirmed at Truist Financial

PROCEPT BioRobotics (NASDAQ:PRCT)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a report issued on Wednesday,Benzinga reports. They presently have a $90.00 price target on the stock, down from their previous price target of $105.00. Truist Financial’s target price would suggest a potential upside of 43.52% from the company’s current price.

PRCT has been the subject of several other reports. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price for the company. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Finally, Morgan Stanley assumed coverage on PROCEPT BioRobotics in a report on Monday, December 2nd. They set an “overweight” rating and a $105.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and an average target price of $95.71.

PROCEPT BioRobotics Stock Down 3.7 %

PROCEPT BioRobotics stock opened at $62.71 on Wednesday. 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 has a 1-year low of $45.20 and a 1-year high of $103.81. The company has a fifty day simple moving average of $75.53 and a 200 day simple moving average of $80.02. The company has a market cap of $3.27 billion, a P/E ratio of -32.16 and a beta of 1.03.

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

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the completion of the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at $5,096,605.36. The trade was a 34.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Reza Zadno sold 26,423 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total value of $2,568,844.06. Following the sale, the chief executive officer now directly owns 152,762 shares in the company, valued at $14,851,521.64. This represents a 14.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRCT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PROCEPT BioRobotics by 19.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,391 shares of the company’s stock worth $11,224,000 after purchasing an additional 22,931 shares during the period. Voloridge Investment Management LLC raised its position in shares of PROCEPT BioRobotics by 60.4% in the 4th quarter. Voloridge Investment Management LLC now owns 454,374 shares of the company’s stock valued at $36,586,000 after buying an additional 171,029 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of PROCEPT BioRobotics by 237.1% during the 4th quarter. Two Sigma Advisers LP now owns 90,000 shares of the company’s stock worth $7,247,000 after acquiring an additional 63,300 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of PROCEPT BioRobotics by 91.0% during the 4th quarter. Two Sigma Investments LP now owns 353,716 shares of the company’s stock worth $28,481,000 after acquiring an additional 168,505 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC increased its stake in PROCEPT BioRobotics by 1.6% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 551,767 shares of the company’s stock valued at $44,428,000 after acquiring an additional 8,721 shares during the last quarter. Institutional investors 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).