PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives $40.82 Consensus PT from Brokerages

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have earned an average recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $40.8182.

Several analysts have issued reports on the stock. TD Cowen cut their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Bank of America downgraded shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and cut their target price for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Tuesday. Robert W. Baird initiated coverage on shares of PROCEPT BioRobotics in a report on Friday, March 6th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Jefferies Financial Group cut shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $24.36 on Thursday. The company’s fifty day moving average is $25.53 and its two-hundred day moving average is $29.80. The company has a quick ratio of 5.77, a current ratio of 6.85 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 company has a market cap of $1.37 billion, a P/E ratio of -14.25 and a beta of 0.94.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (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 firm had revenue of $76.38 million for the quarter, compared to analyst estimates of $93.70 million. During the same period last year, the firm earned ($0.35) earnings per share. PROCEPT BioRobotics’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that PROCEPT BioRobotics will post -1.58 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Kevin Waters sold 6,721 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $159,287.70. Following the transaction, the executive vice president directly owned 152,264 shares in the company, valued at $3,608,656.80. The trade was a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alaleh Nouri sold 6,892 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $163,340.40. Following the transaction, the executive vice president owned 114,264 shares in the company, valued at approximately $2,708,056.80. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 426,262 shares of company stock worth $10,483,091 and have sold 23,229 shares worth $573,466. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently modified their holdings of PRCT. AQR Capital Management LLC grew its holdings in shares of PROCEPT BioRobotics by 7.3% during the 1st quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock valued at $1,101,000 after acquiring an additional 1,286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of PROCEPT BioRobotics by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after acquiring an additional 13,767 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of PROCEPT BioRobotics by 54.4% during the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock valued at $1,654,000 after acquiring an additional 10,002 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of PROCEPT BioRobotics by 100.4% during the 2nd quarter. Prudential Financial Inc. now owns 6,815 shares of the company’s stock valued at $393,000 after acquiring an additional 3,415 shares in the last quarter. Finally, State Street Corp boosted its holdings in PROCEPT BioRobotics by 6.9% in the second quarter. State Street Corp now owns 1,269,110 shares of the company’s stock worth $73,101,000 after purchasing an additional 81,849 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

About PROCEPT BioRobotics

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.