PROCEPT BioRobotics (NASDAQ:PRCT) Downgraded by Wall Street Zen to Sell

PROCEPT BioRobotics (NASDAQ:PRCT) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

PRCT has been the subject of several other research reports. Morgan Stanley cut their price objective on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $50.00 price objective (down previously from $55.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, November 5th. TD Cowen lowered their price objective on shares of PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Jefferies Financial Group upgraded shares of PROCEPT BioRobotics from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Oppenheimer upgraded PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Tuesday, September 2nd. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.70.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $35.99 on Friday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -23.52 and a beta of 0.99. PROCEPT BioRobotics has a 12 month low of $27.80 and a 12 month high of $92.92. The firm has a fifty day simple moving average of $33.01 and a 200 day simple moving average of $43.48. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted 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. PROCEPT BioRobotics had a negative net margin of 28.20% and a negative return on equity of 21.72%. The company had revenue of $83.33 million during the quarter, compared to the consensus estimate of $80.78 million. During the same period in the prior year, the business posted ($0.40) EPS. The company’s quarterly revenue was up 42.6% on a year-over-year basis. Research analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in PROCEPT BioRobotics during the 1st quarter worth $40,000. Vega Investment Solutions grew its stake in shares of PROCEPT BioRobotics by 52.0% in the second 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. JTC Employer Solutions Trustee Ltd bought a new position in PROCEPT BioRobotics during the third quarter worth about $30,000. AlphaQuest LLC raised 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 worth $63,000 after purchasing an additional 1,010 shares in the last quarter. Finally, CWM LLC boosted its holdings in PROCEPT BioRobotics by 40.7% in the 2nd quarter. CWM LLC now owns 1,228 shares of the company’s stock valued at $71,000 after purchasing an additional 355 shares during the period. 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).