Robert W. Baird Begins Coverage on PROCEPT BioRobotics (NASDAQ:PRCT)

Investment analysts at Robert W. Baird began coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research report issued to clients and investors on Friday, MarketBeat reports. The firm set a “neutral” rating and a $30.00 price target on the stock. Robert W. Baird’s price target indicates a potential upside of 23.86% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. UBS Group assumed coverage on PROCEPT BioRobotics in a research note on Friday, December 12th. They issued a “buy” rating and a $62.00 price objective on the stock. Truist Financial reduced their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Bank of America cut shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Piper Sandler reduced their price objective on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Finally, TD Cowen lowered their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.82.

PROCEPT BioRobotics Trading Down 4.5%

NASDAQ PRCT opened at $24.22 on Friday. The business’s fifty day moving average is $29.25 and its 200-day moving average is $32.97. 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 stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -14.16 and a beta of 1.02. PROCEPT BioRobotics has a one year low of $19.35 and a one year high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results 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). The company had revenue of $76.38 million for the quarter, compared to the consensus estimate of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. PROCEPT BioRobotics’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. Equities research analysts predict that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Institutional Trading of 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 first quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock worth $1,101,000 after purchasing an additional 1,286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in PROCEPT BioRobotics by 9.9% during the first 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 purchasing an additional 13,767 shares during the last quarter. Intech Investment Management LLC grew its stake in PROCEPT BioRobotics by 54.4% in the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock worth $1,654,000 after buying an additional 10,002 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of PROCEPT BioRobotics by 1,262.5% in the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after buying an additional 1,010 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of PROCEPT BioRobotics by 16.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,908 shares of the company’s stock valued at $744,000 after buying an additional 1,828 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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.