PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Average Rating of “Moderate Buy” from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $91.43.

A number of brokerages have recently issued reports on PRCT. Truist Financial dropped their price objective on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Morgan Stanley dropped their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th.

Insider Buying and Selling

In other news, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the sale, the chief executive officer now owns 173,070 shares of the company’s stock, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,455 shares of company stock valued at $368,322. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC grew its position in PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after buying an additional 145 shares in the last quarter. Ensign Peak Advisors Inc increased its position in shares of PROCEPT BioRobotics by 1.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company’s stock worth $1,141,000 after purchasing an additional 150 shares during the period. Naviter Wealth LLC raised its stake in PROCEPT BioRobotics by 6.0% in the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock valued at $249,000 after purchasing an additional 176 shares in the last quarter. Amundi lifted its position in PROCEPT BioRobotics by 0.9% during the fourth quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after purchasing an additional 183 shares during the period. Finally, Arizona State Retirement System increased its holdings in PROCEPT BioRobotics by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock valued at $1,150,000 after buying an additional 218 shares during the period. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $53.03 on Friday. The firm has a market cap of $2.91 billion, a PE ratio of -27.19 and a beta of 1.09. PROCEPT BioRobotics has a 12 month low of $47.04 and a 12 month high of $103.81. The company’s fifty day simple moving average is $59.75 and its 200-day simple moving average is $75.01. 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 (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The business had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. Equities research analysts expect that PROCEPT BioRobotics will post -1.75 EPS 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).