PROCEPT BioRobotics (NASDAQ:PRCT) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

PROCEPT BioRobotics (NASDAQ:PRCTGet Rating) issued its earnings results on Thursday. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.08, MarketWatch Earnings reports.

PRCT traded up $0.18 during trading on Friday, reaching $35.31. 576,093 shares of the company’s stock were exchanged, compared to its average volume of 288,004. PROCEPT BioRobotics has a one year low of $15.38 and a one year high of $47.73. The company has a current ratio of 20.08, a quick ratio of 19.27 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $32.94 and a two-hundred day moving average price of $30.49.

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 document filed with the SEC, which can be accessed through this hyperlink.

Several large investors have recently bought and sold shares of PRCT. Geode Capital Management LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $352,000. Cubist Systematic Strategies LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $39,000. Citadel Advisors LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $872,000. Millennium Management LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $1,699,000. Finally, Bank of America Corp DE boosted its stake in shares of PROCEPT BioRobotics by 5,538.5% in the 4th quarter. Bank of America Corp DE now owns 18,607 shares of the company’s stock valued at $465,000 after purchasing an additional 18,277 shares during the last quarter. 65.72% of the stock is currently owned by institutional investors.

PRCT has been the subject of several analyst reports. Guggenheim dropped their target price on shares of PROCEPT BioRobotics from $55.00 to $40.00 in a research report on Wednesday, March 9th. SVB Leerink upped their price objective on shares of PROCEPT BioRobotics from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 9th. Bank of America lowered their price objective on shares of PROCEPT BioRobotics from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, March 9th. Finally, Zacks Investment Research cut shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $36.83.

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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