PROCEPT BioRobotics (NASDAQ:PRCT) Reaches New 1-Year Low – Time to Sell?

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $18.88 and last traded at $19.2550, with a volume of 139255 shares changing hands. The stock had previously closed at $21.22.

Wall Street Analyst Weigh In

PRCT has been the topic of several analyst reports. Evercore started coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $30.00 target price on the stock. Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Leerink Partners lowered PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $31.00 to $29.00 in a report on Thursday, June 11th. 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. Finally, Truist Financial reissued a “hold” rating and issued a $25.00 price objective (down from $30.00) on shares of PROCEPT BioRobotics in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Hold” and a consensus target price of $37.27.

PROCEPT BioRobotics Trading Down 0.8%

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -10.52 and a beta of 0.87. The company has a 50-day moving average price of $24.46 and a 200-day moving average price of $26.36. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15.

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 return on equity of 27.70% and a negative net margin of 31.82%.The business had revenue of $83.13 million for the quarter, compared to analyst estimates of $80.52 million. During the same period in the prior year, the firm posted ($0.45) EPS. PROCEPT BioRobotics’s revenue for the quarter was up 20.1% on a year-over-year basis. Research analysts predict that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRCT. SG Americas Securities LLC raised its stake in PROCEPT BioRobotics by 142.0% during the 4th quarter. SG Americas Securities LLC now owns 84,294 shares of the company’s stock valued at $2,652,000 after purchasing an additional 49,457 shares during the last quarter. Baillie Gifford & Co. grew its position in PROCEPT BioRobotics by 18.3% in the 4th quarter. Baillie Gifford & Co. now owns 1,015,978 shares of the company’s stock worth $31,963,000 after purchasing an additional 157,147 shares during the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in PROCEPT BioRobotics in the 4th quarter worth $1,864,000. DNB Asset Management AS increased its holdings in shares of PROCEPT BioRobotics by 213.9% during the 4th quarter. DNB Asset Management AS now owns 99,567 shares of the company’s stock worth $3,132,000 after purchasing an additional 67,848 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of PROCEPT BioRobotics by 69.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 174,739 shares of the company’s stock worth $5,375,000 after purchasing an additional 71,832 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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.