What is William Blair’s Forecast for PRCT FY2024 Earnings?

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for shares of PROCEPT BioRobotics in a research report issued to clients and investors on Monday, October 28th. William Blair analyst B. Vazquez now anticipates that the company will earn ($1.74) per share for the year, up from their prior forecast of ($1.89). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.74) per share. William Blair also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.34) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($1.22) EPS and FY2026 earnings at ($0.63) EPS.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. PROCEPT BioRobotics’s revenue for the quarter was up 66.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.51) EPS.

Several other equities analysts have also recently commented on PRCT. TD Cowen boosted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Piper Sandler restated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America raised their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Truist Financial restated a “buy” rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Buy” and a consensus target price of $88.40.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $92.29 on Thursday. The firm has a market cap of $4.82 billion, a PE ratio of -47.96 and a beta of 1.03. The stock’s fifty day moving average price is $77.39 and its two-hundred day moving average price is $68.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 6.49. PROCEPT BioRobotics has a 1 year low of $27.65 and a 1 year high of $99.34.

Insiders Place Their Bets

In related news, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the sale, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the sale, the director now directly owns 317,518 shares of the company’s stock, valued at $24,248,849.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 468,353 shares of company stock worth $40,196,366 over the last 90 days. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors have recently added to or reduced their stakes in PRCT. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics in the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of PROCEPT BioRobotics in the second quarter valued at $36,000. Quest Partners LLC increased its stake in PROCEPT BioRobotics by 2,492.3% in the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after purchasing an additional 648 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after acquiring an additional 713 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in PROCEPT BioRobotics during the third quarter worth about $120,000. Hedge funds and other 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).