TD Cowen Cuts PROCEPT BioRobotics (NASDAQ:PRCT) Price Target to $50.00

PROCEPT BioRobotics (NASDAQ:PRCT) had its price objective cut by TD Cowen from $85.00 to $50.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on PRCT. Wells Fargo & Company cut their price target on shares of PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday. Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. BTIG Research reiterated a “neutral” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, September 16th. Morgan Stanley reduced their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.30.

PROCEPT BioRobotics Stock Up 2.0%

PRCT opened at $31.92 on Wednesday. PROCEPT BioRobotics has a 12 month low of $29.78 and a 12 month high of $103.81. The company has a current ratio of 8.44, a quick ratio of 7.86 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $36.02 and its 200-day moving average price is $47.66. The company has a market cap of $1.78 billion, a P/E ratio of -20.86 and a beta of 0.98.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.03. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The business had revenue of $83.33 million for the quarter, compared to analyst estimates of $80.78 million. During the same period last year, the company earned ($0.40) EPS. PROCEPT BioRobotics’s revenue for the quarter was up 42.6% compared to the same quarter last year. PROCEPT BioRobotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. On average, equities analysts expect that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently modified their holdings of PRCT. Alliancebernstein L.P. grew its holdings in shares of PROCEPT BioRobotics by 0.6% during the second quarter. Alliancebernstein L.P. now owns 2,156,856 shares of the company’s stock valued at $124,235,000 after buying an additional 13,163 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in PROCEPT BioRobotics by 113.5% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company’s stock worth $92,065,000 after acquiring an additional 849,792 shares during the last quarter. Chicago Capital LLC lifted its position in PROCEPT BioRobotics by 175.7% in the 3rd quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock valued at $55,992,000 after acquiring an additional 999,873 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in PROCEPT BioRobotics by 43.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company’s stock valued at $82,462,000 after purchasing an additional 429,461 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in PROCEPT BioRobotics by 9.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,298,894 shares of the company’s stock valued at $74,826,000 after purchasing an additional 115,229 shares during the last quarter. 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).