Q2 2024 Earnings Forecast for PROCEPT BioRobotics Co. Issued By William Blair (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Research analysts at William Blair increased their Q2 2024 earnings per share (EPS) estimates for PROCEPT BioRobotics in a research report issued on Wednesday, May 1st. William Blair analyst B. Vazquez now expects that the company will post earnings per share of ($0.53) for the quarter, up from their prior forecast of ($0.54). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($2.00) per share. William Blair also issued estimates for PROCEPT BioRobotics’ Q3 2024 earnings at ($0.49) EPS, Q4 2024 earnings at ($0.43) EPS, FY2024 earnings at ($1.96) EPS, Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.40) EPS, Q4 2025 earnings at ($0.35) EPS and FY2025 earnings at ($1.69) EPS.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company raised their price target on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Truist Financial raised their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $49.50.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $64.31 on Friday. The firm has a market cap of $3.31 billion, a P/E ratio of -30.33 and a beta of 0.95. The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18. PROCEPT BioRobotics has a 12 month low of $24.83 and a 12 month high of $64.89. The stock’s fifty day moving average price is $50.25 and its 200-day moving average price is $43.61.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. The business had revenue of $44.50 million for the quarter, compared to analyst estimates of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 42.13% and a negative net margin of 66.12%. The business’s revenue was up 82.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.63) earnings per share.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in PROCEPT BioRobotics by 13.0% in the third quarter. FMR LLC now owns 7,553,460 shares of the company’s stock worth $247,829,000 after acquiring an additional 870,364 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PROCEPT BioRobotics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock worth $175,376,000 after acquiring an additional 109,694 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in PROCEPT BioRobotics by 89.8% in the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock worth $44,144,000 after acquiring an additional 636,750 shares in the last quarter. Wellington Management Group LLP boosted its holdings in PROCEPT BioRobotics by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock worth $44,663,000 after acquiring an additional 260,946 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in PROCEPT BioRobotics by 48.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 923,437 shares of the company’s stock worth $30,298,000 after acquiring an additional 303,003 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 30,432 shares of PROCEPT BioRobotics stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $62.97, for a total value of $1,916,303.04. Following the transaction, the executive vice president now owns 62,472 shares in the company, valued at $3,933,861.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 30,432 shares of PROCEPT BioRobotics stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $62.97, for a total value of $1,916,303.04. Following the transaction, the executive vice president now owns 62,472 shares in the company, valued at $3,933,861.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Waters sold 904 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now owns 33,523 shares in the company, valued at approximately $1,676,150. The disclosure for this sale can be found here. Insiders have sold 124,581 shares of company stock worth $6,570,023 over the last quarter. Insiders own 19.60% of the company’s stock.

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).