PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives $73.22 Average Target Price from Analysts

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $73.2222.

Several equities analysts have recently commented on PRCT shares. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Wells Fargo & Company lowered their price objective on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Oppenheimer raised PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Tuesday, September 2nd. Stephens began coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an “overweight” rating and a $70.00 price target for the company. Finally, Piper Sandler dropped their price objective on PROCEPT BioRobotics from $80.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of PROCEPT BioRobotics by 6.3% during the 4th quarter. Bank of America Corp DE now owns 623,408 shares of the company’s stock valued at $50,197,000 after purchasing an additional 36,944 shares during the last quarter. Deutsche Bank AG boosted its position in PROCEPT BioRobotics by 54.6% in the fourth quarter. Deutsche Bank AG now owns 145,242 shares of the company’s stock valued at $11,695,000 after buying an additional 51,289 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in shares of PROCEPT BioRobotics by 1.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company’s stock worth $1,141,000 after buying an additional 150 shares during the last quarter. Graham Capital Management L.P. acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter worth $230,000. Finally, Millennium Management LLC lifted its stake in shares of PROCEPT BioRobotics by 240.2% in the 4th quarter. Millennium Management LLC now owns 287,847 shares of the company’s stock valued at $23,177,000 after acquiring an additional 203,241 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $37.14 on Wednesday. The firm has a market cap of $2.07 billion, a PE ratio of -23.96 and a beta of 1.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86. The stock’s fifty day moving average price is $46.77 and its two-hundred day moving average price is $53.80. PROCEPT BioRobotics has a one year low of $36.90 and a one year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. The company had revenue of $79.18 million for the quarter, compared to analyst estimates of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.PROCEPT BioRobotics’s quarterly revenue was up 48.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.50) EPS. As a group, research analysts expect 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).