PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $94.29 Average PT from Brokerages

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $94.29.

A number of brokerages have recently issued reports on PRCT. Truist Financial reiterated a “buy” rating and set a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Finally, Morgan Stanley reduced their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th.

PROCEPT BioRobotics Trading Up 0.4 %

Shares of PROCEPT BioRobotics stock opened at $58.10 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The company has a market capitalization of $3.18 billion, a P/E ratio of -29.79 and a beta of 1.05. PROCEPT BioRobotics has a 1 year low of $45.56 and a 1 year high of $103.81. The company’s fifty day moving average is $67.15 and its two-hundred day moving average is $78.36.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $68.24 million for the quarter, compared to analysts’ expectations of $66.79 million. Analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Insider Activity

In related news, CEO Reza Zadno sold 5,475 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,455 shares of company stock valued at $368,322. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of hedge funds have recently added to or reduced their stakes in PRCT. Lord Abbett & CO. LLC grew its stake in PROCEPT BioRobotics by 45.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after buying an additional 233,430 shares during the last quarter. Perpetual Ltd bought a new position in shares of PROCEPT BioRobotics in the fourth quarter worth about $66,972,000. Penserra Capital Management LLC acquired a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth about $2,308,000. Oak Ridge Investments LLC boosted its stake in PROCEPT BioRobotics by 24.0% during the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock valued at $2,420,000 after purchasing an additional 5,817 shares during the period. Finally, SG Americas Securities LLC grew its holdings in PROCEPT BioRobotics by 295.8% in the 4th quarter. SG Americas Securities LLC now owns 6,598 shares of the company’s stock valued at $531,000 after buying an additional 4,931 shares during the last quarter. Institutional investors and hedge funds 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).