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

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

PRCT has been the topic of a number of recent research reports. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective on the stock. TD Cowen raised their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th.

PROCEPT BioRobotics Stock Up 3.3 %

Shares of PRCT stock opened at $83.16 on Friday. PROCEPT BioRobotics has a 12 month low of $39.48 and a 12 month high of $103.81. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.34 billion, a PE ratio of -42.65 and a beta of 0.99. The stock has a 50 day moving average of $90.51 and a 200-day moving average of $77.11.

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

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. The trade was a 20.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alaleh Nouri sold 28,092 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the completion of the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 487,816 shares of company stock valued at $44,820,549. 17.40% of the stock is owned by insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of hedge funds have recently added to or reduced their stakes in PRCT. State Street Corp raised its stake in shares of PROCEPT BioRobotics by 5.9% in the third quarter. State Street Corp now owns 1,179,514 shares of the company’s stock worth $94,503,000 after acquiring an additional 66,175 shares during the last quarter. Geode Capital Management LLC raised its position in PROCEPT BioRobotics by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock worth $88,678,000 after purchasing an additional 84,244 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in PROCEPT BioRobotics during the 3rd quarter worth $72,563,000. Franklin Resources Inc. lifted its holdings in PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after buying an additional 347,330 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in PROCEPT BioRobotics by 45.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after buying an additional 233,430 shares during the last quarter. 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).