PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $91.43 Average Price Target from Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $91.43.

Several equities analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial cut their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 11th.

Insider Activity

In related news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated 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 sale, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,455 shares of company stock valued at $368,322. 17.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of large investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its position in PROCEPT BioRobotics by 7.6% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 10,357 shares of the company’s stock worth $603,000 after acquiring an additional 733 shares during the period. Sentry Investment Management LLC increased its stake in shares of PROCEPT BioRobotics by 25.4% in the 1st quarter. Sentry Investment Management LLC now owns 5,916 shares of the company’s stock valued at $345,000 after purchasing an additional 1,198 shares in the last quarter. Rhumbline Advisers raised its stake in shares of PROCEPT BioRobotics by 5.0% during the 1st quarter. Rhumbline Advisers now owns 64,373 shares of the company’s stock worth $3,750,000 after buying an additional 3,077 shares during the period. GAMMA Investing LLC lifted its holdings in PROCEPT BioRobotics by 7,021.1% during the first quarter. GAMMA Investing LLC now owns 6,409 shares of the company’s stock valued at $373,000 after purchasing an additional 6,319 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PROCEPT BioRobotics by 19.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,391 shares of the company’s stock worth $11,224,000 after purchasing an additional 22,931 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $52.92 on Friday. The firm has a market capitalization of $2.90 billion, a PE ratio of -27.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The company has a 50-day simple moving average of $60.44 and a two-hundred day simple moving average of $75.32. PROCEPT BioRobotics has a one year low of $47.04 and a one year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $66.79 million. On average, analysts anticipate that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

PROCEPT BioRobotics Company Profile

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).