Q2 2024 Earnings Forecast for PROCEPT BioRobotics Co. Issued By William Blair (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Stock analysts at William Blair boosted their Q2 2024 earnings estimates for PROCEPT BioRobotics in a research note issued on Wednesday, May 1st. William Blair analyst B. Vazquez now expects that the company will post earnings per share of ($0.53) for the quarter, up from their previous estimate of ($0.54). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($2.00) per share. William Blair also issued estimates for PROCEPT BioRobotics’ Q3 2024 earnings at ($0.49) EPS, Q4 2024 earnings at ($0.43) EPS, FY2024 earnings at ($1.96) EPS, Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.40) EPS, Q4 2025 earnings at ($0.35) EPS and FY2025 earnings at ($1.69) EPS.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 42.13%. The firm had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.58 million. During the same quarter last year, the business earned ($0.63) earnings per share. The business’s revenue was up 82.4% on a year-over-year basis.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company raised their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Truist Financial lifted their price target on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $49.50.

PROCEPT BioRobotics Stock Up 4.2 %

Shares of PROCEPT BioRobotics stock opened at $64.31 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63. PROCEPT BioRobotics has a 52-week low of $24.83 and a 52-week high of $64.89. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -30.33 and a beta of 0.95. The company’s 50 day moving average price is $50.25 and its 200-day moving average price is $43.61.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 9,179 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $428,383.93. Following the sale, the chief executive officer now owns 246,710 shares in the company, valued at $11,513,955.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 28,677 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.09, for a total transaction of $1,436,430.93. Following the completion of the transaction, the chief financial officer now owns 33,523 shares of the company’s stock, valued at $1,679,167.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Reza Zadno sold 9,179 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $428,383.93. Following the transaction, the chief executive officer now directly owns 246,710 shares of the company’s stock, valued at approximately $11,513,955.70. The disclosure for this sale can be found here. Insiders have sold a total of 124,581 shares of company stock worth $6,570,023 over the last quarter. Corporate insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairman Group LLC purchased a new position in PROCEPT BioRobotics during the fourth quarter valued at $84,000. Blue Trust Inc. raised its position in shares of PROCEPT BioRobotics by 30.9% in the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after purchasing an additional 620 shares during the last quarter. Glass Jacobson Investment Advisors llc purchased a new position in shares of PROCEPT BioRobotics in the 4th quarter worth about $138,000. Jump Financial LLC purchased a new position in shares of PROCEPT BioRobotics in the 4th quarter worth about $201,000. Finally, Amalgamated Bank raised its position in shares of PROCEPT BioRobotics by 8.8% in the 3rd quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after purchasing an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

About PROCEPT BioRobotics

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).