Analysts Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Target Price at $94.29

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

A number of research analysts recently commented on the company. Truist Financial reissued a “buy” rating and issued a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Morgan Stanley reduced their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd.

PROCEPT BioRobotics Stock Up 0.4 %

PRCT opened at $58.10 on Wednesday. The stock has a market cap of $3.18 billion, a PE ratio of -29.79 and a beta of 1.05. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a 52 week low of $45.56 and a 52 week high of $103.81. The business’s fifty day simple moving average is $67.15 and its 200 day simple moving average is $78.32.

PROCEPT BioRobotics (NASDAQ:PRCT) last released 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). The firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, research analysts expect that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares in the company, valued at approximately $9,875,374.20. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares of the company’s stock, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock worth $368,322 over the last three months. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several large investors have recently made changes to their positions in the business. Signaturefd LLC increased its position in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after acquiring an additional 145 shares in the last quarter. Ensign Peak Advisors Inc increased its position in shares of PROCEPT BioRobotics by 1.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company’s stock valued at $1,141,000 after acquiring an additional 150 shares in the last quarter. Naviter Wealth LLC increased its position in shares of PROCEPT BioRobotics by 6.0% during the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock valued at $249,000 after acquiring an additional 176 shares in the last quarter. Amundi increased its position in shares of PROCEPT BioRobotics by 0.9% during the fourth quarter. Amundi now owns 20,143 shares of the company’s stock valued at $1,742,000 after acquiring an additional 183 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of PROCEPT BioRobotics by 1.5% during the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock valued at $1,150,000 after acquiring an additional 218 shares in the last quarter. 89.46% of the stock is currently 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).