Wall Street Zen Upgrades PROCEPT BioRobotics (NASDAQ:PRCT) to Hold

PROCEPT BioRobotics (NASDAQ:PRCT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

PRCT has been the topic of a number of other reports. Oppenheimer upgraded PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Tuesday, September 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Wednesday, October 8th. TD Cowen reduced their price target on PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $50.00 price target (down from $55.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Finally, Leerink Partners reissued an “outperform” rating and issued a $55.00 price objective on shares of PROCEPT BioRobotics in a research report on Wednesday, November 5th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and a consensus target price of $57.89.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $35.86 on Friday. The firm has a market cap of $2.00 billion, a P/E ratio of -23.44 and a beta of 0.99. PROCEPT BioRobotics has a twelve month low of $27.80 and a twelve month high of $97.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.20 and a current ratio of 8.44. The firm’s 50 day moving average price is $33.03 and its two-hundred day moving average price is $44.36.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. The business had revenue of $83.33 million for the quarter, compared to analyst estimates of $80.78 million. PROCEPT BioRobotics had a negative net margin of 28.20% and a negative return on equity of 21.72%. The firm’s quarterly revenue was up 42.6% on a year-over-year basis. During the same period last year, the business posted ($0.40) earnings per share. On average, analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently made changes to their positions in PRCT. JTC Employer Solutions Trustee Ltd bought a new stake in PROCEPT BioRobotics during the third quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PROCEPT BioRobotics in the 1st quarter valued at about $40,000. Vega Investment Solutions increased its stake in shares of PROCEPT BioRobotics by 52.0% during the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after purchasing an additional 265 shares during the last quarter. US Bancorp DE raised its holdings in shares of PROCEPT BioRobotics by 175.7% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares during the period. Finally, AlphaQuest LLC lifted its stake in PROCEPT BioRobotics by 1,262.5% in the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock valued at $63,000 after purchasing an additional 1,010 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

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).