PROCEPT BioRobotics (PRCT) Set to Announce Earnings on Wednesday

PROCEPT BioRobotics (NASDAQ:PRCT) will announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.55) per share for the quarter. PROCEPT BioRobotics has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.10). The business had revenue of $43.58 million for the quarter, compared to analysts’ expectations of $41.79 million. PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. The business’s quarterly revenue was up 83.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.56) earnings per share. On average, analysts expect PROCEPT BioRobotics to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $53.75 on Wednesday. The stock has a market capitalization of $2.74 billion, a P/E ratio of -23.90 and a beta of 1.01. The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $49.09 and its 200 day moving average is $42.16. PROCEPT BioRobotics has a 12 month low of $24.83 and a 12 month high of $54.50.

Insider Activity at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 22,349 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $50.16, for a total transaction of $1,121,025.84. Following the transaction, the chief financial officer now owns 33,523 shares of the company’s stock, valued at approximately $1,681,513.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,306 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $49.95, for a total transaction of $265,034.70. Following the completion of the sale, the executive vice president now owns 47,351 shares of the company’s stock, valued at approximately $2,365,182.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Waters sold 22,349 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $50.16, for a total transaction of $1,121,025.84. Following the sale, the chief financial officer now directly owns 33,523 shares of the company’s stock, valued at approximately $1,681,513.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,149 shares of company stock valued at $4,653,720. Insiders own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCT has been the topic of a number of recent research reports. Truist Financial upped their price target on shares of PROCEPT BioRobotics from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Wells Fargo & Company upped their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $45.60.

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).