PROCEPT BioRobotics (NASDAQ:PRCT) Trading Down 6.9% – Time to Sell?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT)’s stock price fell 6.9% during trading on Friday . The company traded as low as $23.59 and last traded at $23.61. 229,988 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,577,030 shares. The stock had previously closed at $25.35.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRCT shares. Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 27th. Morgan Stanley reduced their target price on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Piper Sandler dropped their price target on PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. UBS Group assumed coverage on PROCEPT BioRobotics in a research report on Friday, December 12th. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Wall Street Zen lowered PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Hold” and an average target price of $40.82.

PROCEPT BioRobotics Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. The firm has a market capitalization of $1.37 billion, a P/E ratio of -14.16 and a beta of 1.02. The company’s 50 day moving average price is $29.25 and its 200 day moving average price is $32.97.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The company had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. During the same quarter last year, the firm earned ($0.35) EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently made changes to their positions in the company. Vega Investment Solutions boosted its holdings in 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 during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in PROCEPT BioRobotics in the third quarter worth about $30,000. Caitong International Asset Management Co. Ltd raised its holdings in PROCEPT BioRobotics by 436.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after purchasing an additional 746 shares during the last quarter. Center for Financial Planning Inc. bought a new stake in PROCEPT BioRobotics during the 4th quarter worth about $40,000. Finally, US Bancorp DE lifted its position in PROCEPT BioRobotics by 175.7% during 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. 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.