Analysts Set PROCEPT BioRobotics Corporation (NASDAQ:PRCT) PT at $41.90

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

Several equities analysts have recently commented on PRCT shares. Truist Financial reduced their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Thursday, January 22nd. Bank of America downgraded shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. UBS Group began coverage on shares of PROCEPT BioRobotics in a report on Friday, December 12th. They set a “buy” rating and a $62.00 price objective for the company. Finally, Wells Fargo & Company dropped their target price on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th.

PROCEPT BioRobotics Stock Down 4.5%

Shares of PROCEPT BioRobotics stock opened at $24.22 on Wednesday. PROCEPT BioRobotics has a 1-year low of $19.35 and a 1-year high of $66.85. The company has a market capitalization of $1.37 billion, a PE ratio of -14.16 and a beta of 1.02. 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 business has a 50-day moving average of $29.25 and a 200-day moving average of $33.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $76.38 million during the quarter, compared to analysts’ expectations of $93.70 million. During the same period in the prior year, the company posted ($0.35) EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors and hedge funds have recently bought and sold shares of PRCT. Prosight Management LP lifted its holdings in PROCEPT BioRobotics by 1,692.4% during the 4th quarter. Prosight Management LP now owns 1,380,000 shares of the company’s stock worth $43,415,000 after buying an additional 1,303,009 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of PROCEPT BioRobotics by 58.6% in the 3rd quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock valued at $122,052,000 after acquiring an additional 1,262,928 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of PROCEPT BioRobotics by 59.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company’s stock valued at $102,919,000 after acquiring an additional 1,218,815 shares in the last quarter. Chicago Capital LLC raised its position in shares of PROCEPT BioRobotics by 175.7% during the 3rd quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock valued at $55,992,000 after acquiring an additional 999,873 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in PROCEPT BioRobotics by 113.5% during the second quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company’s stock worth $92,065,000 after purchasing an additional 849,792 shares during the last quarter. Institutional investors and hedge funds 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.