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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $97.86.

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

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT opened at $62.25 on Friday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $76.53 and a 200-day moving average price of $79.72. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -31.92 and a beta of 1.03. PROCEPT BioRobotics has a 12 month low of $45.20 and a 12 month high of $103.81.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 26,423 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total value of $2,568,844.06. Following the sale, the chief executive officer now directly owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. This represents a 14.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following the completion of the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,935 shares of company stock valued at $7,882,089. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors have recently bought and sold shares of the company. Westfield Capital Management Co. LP purchased a new position in PROCEPT BioRobotics in the third quarter worth about $72,563,000. FMR LLC raised its holdings in PROCEPT BioRobotics by 11.9% in the 4th quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after acquiring an additional 866,328 shares during the last quarter. Perpetual Ltd purchased a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $66,972,000. Wellington Management Group LLP lifted its position in PROCEPT BioRobotics by 38.8% in the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after acquiring an additional 416,819 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after purchasing an additional 347,330 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Company Profile

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).