PROCEPT BioRobotics (NASDAQ:PRCT) Price Target Lowered to $70.00 at Truist Financial

PROCEPT BioRobotics (NASDAQ:PRCT) had its price target decreased by Truist Financial from $90.00 to $70.00 in a report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Separately, Morgan Stanley dropped their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.43.

PROCEPT BioRobotics Trading Up 2.6 %

Shares of PRCT opened at $52.07 on Friday. The company’s fifty day simple moving average is $61.23 and its 200-day simple moving average is $75.72. The company has a market cap of $2.85 billion, a P/E ratio of -26.70 and a beta of 1.09. 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 twelve month low of $47.04 and a twelve month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The firm had revenue of $68.24 million for 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%. As a group, analysts expect that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Insider Buying and Selling

In other news, CEO Reza Zadno sold 5,475 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the sale, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock valued at $368,322 over the last quarter. 17.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of PROCEPT BioRobotics by 7.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 10,357 shares of the company’s stock valued at $603,000 after buying an additional 733 shares in the last quarter. Sentry Investment Management LLC lifted its position in PROCEPT BioRobotics by 25.4% during the first quarter. Sentry Investment Management LLC now owns 5,916 shares of the company’s stock valued at $345,000 after acquiring an additional 1,198 shares during the last quarter. Rhumbline Advisers boosted its stake in PROCEPT BioRobotics by 5.0% in the first quarter. Rhumbline Advisers now owns 64,373 shares of the company’s stock valued at $3,750,000 after acquiring an additional 3,077 shares in the last quarter. GAMMA Investing LLC grew its holdings in PROCEPT BioRobotics by 7,021.1% in the first quarter. GAMMA Investing LLC now owns 6,409 shares of the company’s stock worth $373,000 after purchasing an additional 6,319 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 in the last quarter. 89.46% of the stock is owned by institutional investors.

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).