PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $61.20 Consensus Target Price from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCTGet Free Report) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $61.20.

Several equities analysts have issued reports on PRCT shares. TD Cowen increased their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 6th. Truist Financial raised their price target on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler boosted their price objective on PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th.

View Our Latest Stock Analysis on PRCT

Insider Transactions at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 30,432 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the completion of the sale, the executive vice president now owns 62,472 shares of the company’s stock, valued at approximately $3,933,861.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 30,432 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the transaction, the executive vice president now owns 62,472 shares of the company’s stock, valued at $3,933,861.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Waters sold 1,024 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $48.83, for a total value of $50,001.92. Following the completion of the sale, the chief financial officer now owns 102,149 shares of the company’s stock, valued at $4,987,935.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,651 shares of company stock valued at $4,168,073. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently bought and sold shares of PRCT. Fairman Group LLC acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at about $84,000. Blue Trust Inc. raised its position in shares of PROCEPT BioRobotics by 30.9% during the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after buying an additional 620 shares during the period. Glass Jacobson Investment Advisors llc acquired a new position in PROCEPT BioRobotics in the fourth quarter valued at approximately $138,000. Jump Financial LLC purchased a new position in PROCEPT BioRobotics in the fourth quarter worth approximately $201,000. Finally, Amalgamated Bank increased its stake in PROCEPT BioRobotics by 8.8% during the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after acquiring an additional 442 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $64.48 on Wednesday. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -30.42 and a beta of 0.95. The stock has a 50-day moving average of $55.69 and a 200 day moving average of $47.94. 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 twelve month low of $24.83 and a twelve month high of $77.00.

PROCEPT BioRobotics (NASDAQ:PRCTGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.04. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The business had revenue of $44.50 million during the quarter, compared to the consensus estimate of $41.58 million. During the same period in the prior year, the company posted ($0.63) EPS. The business’s quarterly revenue was up 82.4% on a year-over-year basis. Sell-side analysts anticipate that PROCEPT BioRobotics will post -1.93 EPS for the current fiscal year.

PROCEPT BioRobotics Company Profile

(Get Free Report

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).

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Analyst Recommendations for PROCEPT BioRobotics (NASDAQ:PRCT)

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