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

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $97.86.

PRCT has been the subject of several analyst reports. Wells Fargo & Company restated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial restated a “buy” rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 price target for the company. Bank of America raised their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the sale, the chief executive officer now directly owns 258,445 shares in the company, valued at $23,518,495. The trade was a 52.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. This represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 487,816 shares of company stock worth $44,820,549 in the last three months. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PRCT. M&G Plc purchased a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at about $8,507,000. KRS Capital Management LLC purchased a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at about $2,817,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at about $284,000. RiverPark Advisors LLC purchased a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at about $135,000. Finally, Legato Capital Management LLC lifted its position in shares of PROCEPT BioRobotics by 23.1% during the 2nd quarter. Legato Capital Management LLC now owns 51,670 shares of the company’s stock valued at $3,157,000 after buying an additional 9,701 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $89.24 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business has a fifty day simple moving average of $87.04 and a two-hundred day simple moving average of $75.63. PROCEPT BioRobotics has a 12 month low of $39.48 and a 12 month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same period last year, the company earned ($0.51) earnings per share. The company’s revenue was up 66.4% on a year-over-year basis. On average, research analysts expect that PROCEPT BioRobotics will post -1.75 earnings per share 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).