PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $97.86.

Several research firms have recently issued reports on PRCT. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price target for the company. Morgan Stanley initiated coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 price target for the company. Piper Sandler reissued an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, TD Cowen boosted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT opened at $86.46 on Friday. The business’s 50-day moving average price is $90.46 and its two-hundred day moving average price is $77.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics has a one year low of $41.75 and a one year high of $103.81. The company has a market capitalization of $4.51 billion, a P/E ratio of -44.34 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business’s quarterly revenue was up 66.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) earnings per share. Analysts anticipate that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 26,423 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total value of $2,568,844.06. Following the completion of the transaction, the chief executive officer now directly owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. This represents a 14.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. The trade was a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 487,816 shares of company stock valued at $44,820,549 in the last quarter. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in shares of PROCEPT BioRobotics by 290.2% in the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after buying an additional 51,030 shares in the last quarter. Lord Abbett & CO. LLC grew its position in PROCEPT BioRobotics by 45.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after acquiring an additional 233,430 shares during the last quarter. Franklin Resources Inc. grew its position in PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after acquiring an additional 347,330 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in PROCEPT BioRobotics during the 3rd quarter worth approximately $64,000. Finally, Neo Ivy Capital Management bought a new stake in PROCEPT BioRobotics during the 3rd quarter worth approximately $228,000. 89.46% of the stock is owned by institutional investors and hedge funds.

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).