Leerink Partnrs Has Strong Forecast for PRCT FY2024 Earnings

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Equities researchers at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for PROCEPT BioRobotics in a research report issued on Monday, October 28th. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings per share of ($1.76) for the year, up from their prior forecast of ($1.89). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.74) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.35) EPS, Q4 2025 earnings at ($0.21) EPS, FY2025 earnings at ($1.25) EPS and FY2026 earnings at ($0.76) EPS.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same quarter last year, the business posted ($0.51) earnings per share. The business’s revenue for the quarter was up 66.4% on a year-over-year basis.

A number of other research firms have also recently commented on PRCT. Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday. Wells Fargo & Company upped their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. TD Cowen raised their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Bank of America raised their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $88.40.

PROCEPT BioRobotics Trading Up 2.5 %

PROCEPT BioRobotics stock opened at $92.29 on Thursday. The stock has a market cap of $4.82 billion, a PE ratio of -47.96 and a beta of 1.03. The stock has a 50-day moving average price of $77.39 and a 200 day moving average price of $68.06. PROCEPT BioRobotics has a 52 week low of $27.65 and a 52 week high of $99.34. The company has a current ratio of 6.02, a quick ratio of 6.49 and a debt-to-equity ratio of 0.21.

Insider Transactions at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction on 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 owns 258,445 shares in the company, valued at $23,518,495. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Antal Rohit Desai sold 44,867 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the completion of the transaction, the director now directly owns 197,453 shares of the company’s stock, valued at $15,817,959.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 468,353 shares of company stock worth $40,196,366 over the last 90 days. 17.40% of the stock is owned by insiders.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after acquiring an additional 62,164 shares in the last quarter. Bellevue Group AG raised its stake in PROCEPT BioRobotics by 0.5% in the first quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after buying an additional 4,768 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in PROCEPT BioRobotics by 8.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock valued at $31,027,000 after buying an additional 51,305 shares during the period. Blair William & Co. IL bought a new stake in PROCEPT BioRobotics in the first quarter valued at approximately $21,240,000. Finally, Driehaus Capital Management LLC raised its stake in PROCEPT BioRobotics by 25.9% in the second quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock valued at $21,344,000 after buying an additional 71,930 shares during the period. Institutional investors own 89.46% of the company’s stock.

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).