PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $97.86.

A number of equities research analysts have recently issued reports on PRCT shares. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Truist Financial restated a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 34,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the completion of the transaction, the director now directly owns 164,363 shares in the company, valued at approximately $15,678,586.57. This represents a 17.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total transaction of $2,584,668.60. Following the completion of the sale, the chief executive officer now owns 179,185 shares in the company, valued at $17,529,668.55. This represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 462,816 shares of company stock valued at $43,008,799. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently made changes to their positions in the business. Values First Advisors Inc. purchased a new position in PROCEPT BioRobotics in the third quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new stake in PROCEPT BioRobotics during the fourth quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at approximately $64,000. Canton Hathaway LLC purchased a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $66,000. Finally, Nisa Investment Advisors LLC increased its position in shares of PROCEPT BioRobotics by 178.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after purchasing an additional 713 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $74.69 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics has a one year low of $45.20 and a one year high of $103.81. The firm has a market capitalization of $3.90 billion, a P/E ratio of -38.30 and a beta of 1.05. The business has a fifty day moving average of $86.14 and a 200 day moving average of $79.38.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business’s quarterly revenue was up 66.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.51) EPS. As a group, sell-side analysts anticipate that PROCEPT BioRobotics will post -1.75 EPS for the current year.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).