PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $97.86 Average Price Target from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $94.29.

A number of brokerages have recently commented on PRCT. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and issued a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. Finally, Morgan Stanley lowered their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $68.11 on Friday. The firm has a fifty day moving average price of $75.25 and a 200 day moving average price of $79.94. PROCEPT BioRobotics has a 1-year low of $45.20 and a 1-year high of $103.81. 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 stock has a market cap of $3.55 billion, a PE ratio of -34.93 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $68.24 million during the quarter, compared to analysts’ expectations of $66.79 million. As a group, sell-side analysts anticipate that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the sale, the executive vice president now directly owns 52,472 shares in the company, valued at approximately $5,096,605.36. The trade was a 34.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reza Zadno sold 26,423 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the sale, the chief executive officer now owns 152,762 shares in the company, valued at $14,851,521.64. This trade represents a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by insiders.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of PROCEPT BioRobotics by 11.9% in the fourth 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 in the last quarter. Vanguard Group Inc. boosted its holdings in PROCEPT BioRobotics by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after purchasing an additional 297,075 shares during the period. Alliancebernstein L.P. boosted its holdings in PROCEPT BioRobotics by 14.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock valued at $141,110,000 after purchasing an additional 218,148 shares during the period. Wellington Management Group LLP raised its stake in shares of 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 buying an additional 416,819 shares in the last quarter. Finally, State Street Corp increased its position in shares of PROCEPT BioRobotics by 5.9% during the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock worth $94,503,000 after purchasing an additional 66,175 shares in the last quarter. 89.46% of the stock is currently owned by 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).