Brokerages Set PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Price Target at $40.82

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have earned a consensus rating of “Hold” from the fourteen analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $40.8182.

PRCT has been the subject of a number of research reports. Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Leerink Partners lowered their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Thursday, January 22nd. Truist Financial cut their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, TD Cowen reduced their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, February 26th.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $25.01 on Friday. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14. PROCEPT BioRobotics has a 12 month low of $19.35 and a 12 month high of $66.85. The firm has a fifty day simple moving average of $27.25 and a 200 day simple moving average of $31.32. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -14.63 and a beta of 1.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The company had revenue of $76.38 million during the quarter, compared to analyst estimates of $93.70 million. During the same period in the previous year, the company posted ($0.35) EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, EVP Kevin Waters sold 6,721 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $159,287.70. Following the completion of the sale, the executive vice president directly owned 152,264 shares in the company, valued at $3,608,656.80. This represents a 4.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alaleh Nouri sold 5,363 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $25.96, for a total value of $139,223.48. Following the completion of the transaction, the executive vice president owned 105,354 shares in the company, valued at approximately $2,734,989.84. This represents a 4.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vega Investment Solutions increased 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 buying an additional 265 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd grew 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 acquiring 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 approximately $40,000. Finally, US Bancorp DE increased its position in 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 acquiring an additional 1,079 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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.