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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $45.60.

Several equities research analysts have recently commented on PRCT shares. 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 report on Wednesday, February 28th. Wells Fargo & Company upped their price target on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $51.83 on Friday. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $54.79. The business has a 50-day simple moving average of $49.29 and a two-hundred day simple moving average of $42.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -23.14 and a beta of 1.01.

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

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 9,179 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $428,383.93. Following the completion of the transaction, the chief executive officer now directly owns 246,710 shares in the company, valued at approximately $11,513,955.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Reza Zadno sold 9,179 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $428,383.93. Following the completion of the transaction, the chief executive officer now directly owns 246,710 shares in the company, valued at approximately $11,513,955.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Waters sold 28,677 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $50.09, for a total value of $1,436,430.93. Following the completion of the transaction, the chief financial officer now owns 33,523 shares of the company’s stock, valued at $1,679,167.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,149 shares of company stock worth $4,653,720. 19.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairman Group LLC bought a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $84,000. Blue Trust Inc. boosted its stake in PROCEPT BioRobotics by 30.9% in the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after purchasing an additional 620 shares during the period. Glass Jacobson Investment Advisors llc bought a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $138,000. Amalgamated Bank boosted its stake in PROCEPT BioRobotics by 8.8% in the 3rd quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after purchasing an additional 442 shares during the period. Finally, Jump Financial LLC bought a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $201,000. 89.46% of the stock is currently owned by institutional investors.

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).