PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Average Recommendation of “Hold” from Analysts

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $41.4545.

A number of equities analysts have recently weighed in on PRCT shares. TD Cowen dropped their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Wells Fargo & Company dropped their price objective on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Truist Financial dropped their price objective on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Tuesday, April 21st.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $26.12 on Monday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -14.35 and a beta of 0.83. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $25.17 and a 200-day moving average price of $28.93. PROCEPT BioRobotics has a twelve month low of $19.35 and a twelve month high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). The business had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The business’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the company earned ($0.45) EPS. As a group, equities research analysts predict that PROCEPT BioRobotics will post -1.53 EPS for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai purchased 167,246 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of $25.58 per share, with a total value of $4,278,152.68. Following the completion of the purchase, the director owned 167,246 shares in the company, valued at approximately $4,278,152.68. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kevin Waters sold 6,721 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $159,287.70. Following the transaction, the executive vice president directly owned 152,264 shares of the company’s stock, valued at approximately $3,608,656.80. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders bought 426,262 shares of company stock valued at $10,483,091 and sold 23,229 shares valued at $573,466. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in PROCEPT BioRobotics by 436.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock valued at $29,000 after buying an additional 746 shares during the last quarter. Center for Financial Planning Inc. bought a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $40,000. US Bancorp DE boosted its stake in PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after buying an additional 1,079 shares during the last quarter. Cache Advisors LLC bought a new position in PROCEPT BioRobotics during the first quarter valued at approximately $42,000. Finally, Lazard Asset Management LLC boosted its stake in PROCEPT BioRobotics by 90.7% during the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock valued at $98,000 after buying an additional 810 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Company Profile

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.