PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Consensus Recommendation of “Buy” from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCTGet Rating) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $39.80.

A number of brokerages have commented on PRCT. Guggenheim reduced their target price on shares of PROCEPT BioRobotics from $55.00 to $40.00 in a research note on Wednesday, March 9th. SVB Leerink lifted their target price on shares of PROCEPT BioRobotics from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 9th. Bank of America reduced their target price on shares of PROCEPT BioRobotics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, March 9th. Finally, Zacks Investment Research downgraded shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Tuesday.

NASDAQ:PRCT opened at $38.54 on Thursday. The company’s 50-day moving average price is $29.60 and its 200-day moving average price is $30.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 20.08 and a quick ratio of 19.27. PROCEPT BioRobotics has a twelve month low of $15.38 and a twelve month high of $47.73.

PROCEPT BioRobotics (NASDAQ:PRCTGet Rating) last posted its quarterly earnings results on Tuesday, March 8th. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.04). The firm had revenue of $10.14 million for the quarter. On average, research analysts expect that PROCEPT BioRobotics will post -1.82 earnings per share for the current year.

In other PROCEPT BioRobotics news, major shareholder Global Investors Lp Viking sold 1,249,000 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $29.90, for a total transaction of $37,345,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $39,000. Strs Ohio purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $42,000. Citigroup Inc. purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $48,000. California State Teachers Retirement System purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $99,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $107,000. Institutional investors own 62.48% of the company’s stock.

About PROCEPT BioRobotics (Get Rating)

PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology. It 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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