Brokerages Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) PT at $97.86

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 stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $94.29.

A number of research firms have recently issued reports on PRCT. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial reiterated a “buy” rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. Finally, 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 report on Wednesday.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 26,423 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the completion of the sale, the chief executive officer now directly owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. The trade was a 14.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors have recently modified their holdings of the business. Values First Advisors Inc. bought a new stake in shares of PROCEPT BioRobotics in the third quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at about $32,000. Thematics Asset Management bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at about $46,000. Signaturefd LLC boosted its position in shares of PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after acquiring an additional 145 shares during the period. Finally, IFP Advisors Inc bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at about $58,000. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $68.11 on Friday. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a 12-month low of $45.20 and a 12-month high of $103.81. The company has a market capitalization of $3.55 billion, a PE ratio of -34.93 and a beta of 1.03. The firm’s 50 day moving average is $75.25 and its 200-day moving average is $79.94.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) 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 business had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. Equities research analysts anticipate that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

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).