PROCEPT BioRobotics Co. (NASDAQ:PRCT) to Post Q2 2024 Earnings of ($0.56) Per Share, Leerink Partnrs Forecasts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Leerink Partnrs dropped their Q2 2024 earnings per share estimates for PROCEPT BioRobotics in a research report issued to clients and investors on Wednesday, May 1st. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings of ($0.56) per share for the quarter, down from their previous estimate of ($0.50). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.96) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at ($2.00) EPS, Q1 2025 earnings at ($0.62) EPS, Q2 2025 earnings at ($0.45) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($1.49) EPS, FY2026 earnings at ($0.89) EPS and FY2027 earnings at ($0.31) EPS.

Several other equities analysts also recently commented on the company. Wells Fargo & Company upped their price objective 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 upped their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $49.50.

PROCEPT BioRobotics Stock Up 4.2 %

PROCEPT BioRobotics stock opened at $64.31 on Monday. The firm has a 50 day moving average price of $50.25 and a 200-day moving average price of $43.82. The company has a quick ratio of 6.77, a current ratio of 7.63 and a debt-to-equity ratio of 0.18. PROCEPT BioRobotics has a twelve month low of $24.83 and a twelve month high of $64.89. The company has a market capitalization of $3.31 billion, a P/E ratio of -30.33 and a beta of 0.95.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly 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. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 42.13%. The company had revenue of $44.50 million for the quarter, compared to the consensus estimate of $41.58 million. During the same period in the previous year, the firm earned ($0.63) EPS. The firm’s quarterly revenue was up 82.4% on a year-over-year basis.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,306 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total transaction of $265,034.70. Following the sale, the executive vice president now owns 47,351 shares in the company, valued at $2,365,182.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 28,677 shares of PROCEPT BioRobotics stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.09, for a total transaction 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 approximately $1,679,167.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alaleh Nouri sold 5,306 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $49.95, for a total value of $265,034.70. Following the sale, the executive vice president now owns 47,351 shares in the company, valued at $2,365,182.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,581 shares of company stock worth $6,570,023. Corporate insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently bought and sold shares of PRCT. Fairman Group LLC bought a new position in PROCEPT BioRobotics in the 4th quarter valued at $84,000. Blue Trust Inc. boosted its stake in PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after buying an additional 620 shares during the period. Glass Jacobson Investment Advisors llc purchased a new position in PROCEPT BioRobotics during the fourth quarter worth about $138,000. Amalgamated Bank grew its position in PROCEPT BioRobotics by 8.8% during the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after buying an additional 442 shares in the last quarter. Finally, Jump Financial LLC bought a new position in PROCEPT BioRobotics in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).