PROCEPT BioRobotics (NASDAQ:PRCT) Upgraded by Wall Street Zen to “Hold” Rating

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

PRCT has been the subject of several other research reports. Piper Sandler restated an “overweight” rating and issued a $50.00 price objective (down previously from $55.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Wells Fargo & Company decreased their target price on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley cut their price target on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Leerink Partners reiterated an “outperform” rating and issued a $55.00 price objective on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Finally, UBS Group assumed coverage on shares of PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned 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.com, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.40.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $32.83 on Friday. The company has a quick ratio of 7.20, a current ratio of 8.44 and a debt-to-equity ratio of 0.14. PROCEPT BioRobotics has a 52 week low of $27.80 and a 52 week high of $87.45. The firm’s 50 day moving average is $32.43 and its two-hundred day moving average is $39.80. The firm has a market capitalization of $1.83 billion, a P/E ratio of -21.46 and a beta of 0.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $83.33 million during the quarter, compared to the consensus estimate of $80.78 million. During the same quarter in the previous year, the firm earned ($0.40) EPS. The company’s revenue was up 42.6% compared to the same quarter last year. Research analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd purchased a new position in PROCEPT BioRobotics in the 3rd quarter valued at $30,000. Vega Investment Solutions lifted 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 worth $45,000 after acquiring an additional 265 shares during the period. US Bancorp DE boosted its holdings in shares of PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after acquiring an additional 1,079 shares in the last quarter. AlphaQuest LLC increased its stake in shares of PROCEPT BioRobotics by 1,262.5% during the second quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after acquiring an additional 1,010 shares during the period. Finally, CWM LLC increased its stake in shares of PROCEPT BioRobotics by 40.7% during the second quarter. CWM LLC now owns 1,228 shares of the company’s stock worth $71,000 after acquiring an additional 355 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.