Leerink Partnrs Equities Analysts Decrease Earnings Estimates for PROCEPT BioRobotics Co. (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Equities researchers at Leerink Partnrs cut their Q2 2024 earnings per share (EPS) estimates for shares of PROCEPT BioRobotics in a research note issued to investors on Wednesday, May 1st. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings of ($0.56) per share for the quarter, down from their previous forecast of ($0.50). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.96) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at ($2.00) EPS, Q1 2025 earnings at ($0.62) EPS, Q2 2025 earnings at ($0.45) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($1.49) EPS, FY2026 earnings at ($0.89) EPS and FY2027 earnings at ($0.31) EPS.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Piper Sandler raised their price objective on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial upped their target price on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, TD Cowen boosted their price target on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $61.20.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $62.79 on Monday. The company has a market cap of $3.23 billion, a P/E ratio of -29.62 and a beta of 0.95. The firm has a fifty day moving average price of $50.75 and a 200 day moving average price of $44.31. The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19. PROCEPT BioRobotics has a 12 month low of $24.83 and a 12 month high of $65.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The firm had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.58 million. During the same quarter last year, the company earned ($0.63) earnings per share. The firm’s revenue was up 82.4% compared to the same quarter last year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Thomas M. Krummel sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the transaction, the director now directly owns 45,631 shares of the company’s stock, valued at approximately $2,737,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PROCEPT BioRobotics news, Director Thomas M. Krummel sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director now directly owns 45,631 shares of the company’s stock, valued at approximately $2,737,860. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alaleh Nouri sold 2,749 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $128,295.83. Following the completion of the transaction, the executive vice president now owns 62,913 shares in the company, valued at $2,936,149.71. The disclosure for this sale can be found here. Insiders sold a total of 138,371 shares of company stock worth $7,459,789 in the last 90 days. 19.60% of the stock is owned by insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of large investors have recently bought and sold shares of PRCT. FMR LLC increased its position in PROCEPT BioRobotics by 13.0% during the 3rd quarter. FMR LLC now owns 7,553,460 shares of the company’s stock worth $247,829,000 after purchasing an additional 870,364 shares in the last quarter. Wellington Management Group LLP acquired a new stake in PROCEPT BioRobotics during the third quarter worth approximately $26,404,000. Loomis Sayles & Co. L P grew its stake in PROCEPT BioRobotics by 89.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock worth $44,144,000 after acquiring an additional 636,750 shares during the period. Vanguard Group Inc. raised its holdings in PROCEPT BioRobotics by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock valued at $133,697,000 after acquiring an additional 385,271 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth $15,533,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).