PROCEPT BioRobotics Co. (NASDAQ:PRCT) Forecasted to Earn FY2023 Earnings of ($2.09) Per Share

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Investment analysts at Leerink Partnrs upped their FY2023 earnings per share estimates for shares of PROCEPT BioRobotics in a report issued on Thursday, November 2nd. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings per share of ($2.09) for the year, up from their previous estimate of ($2.11). Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($2.21) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q2 2024 earnings at ($0.51) EPS, Q3 2024 earnings at ($0.58) EPS, Q4 2024 earnings at ($0.38) EPS, FY2024 earnings at ($1.96) EPS, FY2025 earnings at ($1.04) EPS and FY2026 earnings at ($0.35) EPS.

PRCT has been the topic of several other research reports. Truist Financial reaffirmed a “buy” rating and set a $49.00 target price on shares of PROCEPT BioRobotics in a research report on Wednesday, September 13th. SVB Leerink assumed coverage on PROCEPT BioRobotics in a research report on Monday, October 16th. They issued an “outperform” rating and a $37.00 price objective for the company. Finally, Piper Sandler assumed coverage on PROCEPT BioRobotics in a research report on Friday, August 11th. They issued an “overweight” rating and a $42.00 price objective for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $43.00.

PROCEPT BioRobotics Stock Up 4.0 %

Shares of NASDAQ PRCT opened at $33.91 on Monday. The company has a current ratio of 6.40, a quick ratio of 5.21 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.54 billion, a PE ratio of -14.55 and a beta of 0.63. The stock’s fifty day simple moving average is $31.16 and its two-hundred day simple moving average is $32.71. PROCEPT BioRobotics has a 12-month low of $24.83 and a 12-month high of $47.75.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, November 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.02. The business had revenue of $35.10 million for the quarter, compared to analysts’ expectations of $33.44 million. PROCEPT BioRobotics had a negative return on equity of 58.91% and a negative net margin of 91.56%. The business’s revenue for the quarter was up 72.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) EPS.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRCT. Amundi purchased a new position in PROCEPT BioRobotics in the 4th quarter worth $37,000. Osaic Holdings Inc. raised its stake in PROCEPT BioRobotics by 31.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,430 shares of the company’s stock worth $51,000 after acquiring an additional 338 shares during the last quarter. Metropolitan Life Insurance Co NY raised its stake in PROCEPT BioRobotics by 40.2% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 1,989 shares of the company’s stock worth $70,000 after acquiring an additional 570 shares during the last quarter. Ronald Blue Trust Inc. purchased a new position in PROCEPT BioRobotics in the 3rd quarter worth $71,000. Finally, UBS Group AG raised its stake in shares of PROCEPT BioRobotics by 127.9% during the 3rd quarter. UBS Group AG now owns 1,823 shares of the company’s stock valued at $75,000 after buying an additional 1,023 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

About PROCEPT BioRobotics

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).