FY2029 Earnings Forecast for PRCT Issued By Leerink Partnrs

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) – Leerink Partnrs increased their FY2029 earnings per share estimates for PROCEPT BioRobotics in a research note issued on Tuesday, October 14th. Leerink Partnrs analyst M. Kratky now expects that the company will post earnings of $0.26 per share for the year, up from their prior estimate of $0.23. The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.75) per share.

PRCT has been the topic of a number of other reports. Morgan Stanley lowered their price objective on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. Piper Sandler decreased their target price on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Stephens began coverage on shares of PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an “overweight” rating and a $70.00 price target on the stock. BTIG Research reiterated a “neutral” rating on shares of PROCEPT BioRobotics in a report on Tuesday, September 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.50.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $33.76 on Wednesday. The business’s 50-day moving average is $37.94 and its 200-day moving average is $49.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -21.78 and a beta of 0.99. PROCEPT BioRobotics has a fifty-two week low of $32.11 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The firm had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. During the same period in the prior year, the business earned ($0.50) EPS. The business’s revenue for the quarter was up 48.3% on a year-over-year basis.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently bought and sold shares of PRCT. ANTIPODES PARTNERS Ltd bought a new position in PROCEPT BioRobotics during the first quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PROCEPT BioRobotics during the 1st quarter valued at about $40,000. Vega Investment Solutions raised its stake in shares of PROCEPT BioRobotics by 52.0% in the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after acquiring an additional 265 shares in the last quarter. CWM LLC raised its stake in shares of PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company’s stock valued at $51,000 after acquiring an additional 358 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in PROCEPT BioRobotics by 1,262.5% in the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after purchasing an additional 1,010 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

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).