Brokerages Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Target Price at $70.67

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has earned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $70.67.

PRCT has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Piper Sandler raised their price objective on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Bank of America boosted their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen raised their price target on PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Truist Financial reiterated a “buy” rating and issued a $74.00 price target (down previously from $79.00) on shares of PROCEPT BioRobotics in a research note on Friday, August 2nd.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, EVP Hisham Shiblaq sold 26,046 shares of PROCEPT BioRobotics stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $68.24, for a total value of $1,777,379.04. Following the completion of the sale, the executive vice president now directly owns 55,860 shares in the company, valued at approximately $3,811,886.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Hisham Shiblaq sold 26,046 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $68.24, for a total value of $1,777,379.04. Following the sale, the executive vice president now owns 55,860 shares in the company, valued at $3,811,886.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alaleh Nouri sold 10,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $62.18, for a total transaction of $621,800.00. Following the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at $3,262,708.96. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRCT. Allianz Asset Management GmbH boosted its stake in shares of PROCEPT BioRobotics by 42.9% during the 4th quarter. Allianz Asset Management GmbH now owns 96,635 shares of the company’s stock worth $4,050,000 after acquiring an additional 28,999 shares during the last quarter. Point72 Europe London LLP grew its holdings in PROCEPT BioRobotics by 30.5% during the fourth quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock valued at $22,215,000 after purchasing an additional 123,800 shares during the period. Vanguard Group Inc. increased its position in PROCEPT BioRobotics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock worth $175,376,000 after buying an additional 109,694 shares in the last quarter. M&G Plc purchased a new stake in PROCEPT BioRobotics in the second quarter worth about $8,507,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of PROCEPT BioRobotics by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,117 shares of the company’s stock worth $14,045,000 after buying an additional 13,868 shares during the period. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of PRCT stock opened at $79.00 on Friday. The business’s fifty day moving average is $66.38 and its 200 day moving average is $59.56. The company has a quick ratio of 6.49, a current ratio of 7.51 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of -37.26 and a beta of 1.00. PROCEPT BioRobotics has a twelve month low of $24.83 and a twelve month high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.02. The firm had revenue of $53.35 million for the quarter, compared to the consensus estimate of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company’s revenue was up 61.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.56) EPS. Research analysts expect that PROCEPT BioRobotics will post -1.88 EPS for the current fiscal 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).