PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Consensus Rating of “Hold” from Analysts

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have received an average rating of “Hold” from the sixteen brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $40.00.

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Piper Sandler reissued an “overweight” rating and set a $35.00 price objective (up from $28.00) on shares of PROCEPT BioRobotics in a report on Thursday, April 30th. Citigroup lowered shares of PROCEPT BioRobotics to a “hold” rating in a research note on Thursday. Finally, Evercore started coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $30.00 price target for the company.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its holdings 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 worth $29,000 after acquiring an additional 746 shares in the last quarter. Versant Capital Management Inc raised its position in shares of PROCEPT BioRobotics by 994.5% during the second quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock worth $27,000 after purchasing an additional 1,084 shares during the period. Center for Financial Planning Inc. acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth about $40,000. US Bancorp DE lifted its holdings in shares of PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Cache Advisors LLC bought a new position in shares of PROCEPT BioRobotics during the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

PRCT traded down $0.63 during trading on Tuesday, hitting $20.58. The company’s stock had a trading volume of 366,170 shares, compared to its average volume of 1,564,762. 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 stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -11.29 and a beta of 0.87. The firm’s 50 day moving average price is $24.99 and its two-hundred day moving average price is $27.00. PROCEPT BioRobotics has a 12 month low of $19.35 and a 12 month high of $62.17.

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

About PROCEPT BioRobotics

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.