PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Average Recommendation of “Buy” by Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has earned an average recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $78.17.

PRCT has been the subject of several research reports. TD Cowen upped their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Bank of America upped their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Truist Financial lifted their target price on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the transaction, the director now owns 317,518 shares in the company, valued at $24,248,849.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the transaction, the director now directly owns 317,518 shares of the company’s stock, valued at $24,248,849.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. The disclosure for this sale can be found here. Insiders sold 154,892 shares of company stock valued at $12,134,665 in the last quarter. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in PROCEPT BioRobotics by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,117 shares of the company’s stock valued at $14,045,000 after acquiring an additional 13,868 shares in the last quarter. Jump Financial LLC bought a new stake in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $201,000. Principal Financial Group Inc. grew its stake in PROCEPT BioRobotics by 5.7% in the fourth quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock worth $444,000 after purchasing an additional 568 shares during the period. Hsbc Holdings PLC raised its holdings in PROCEPT BioRobotics by 31.2% in the fourth quarter. Hsbc Holdings PLC now owns 106,870 shares of the company’s stock worth $4,479,000 after purchasing an additional 25,440 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new position in PROCEPT BioRobotics during the fourth quarter valued at $15,533,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock opened at $80.23 on Tuesday. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $85.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The stock has a market cap of $4.13 billion, a P/E ratio of -37.84 and a beta of 1.03. The firm’s fifty day moving average price is $71.50 and its 200-day moving average price is $62.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The business had revenue of $53.35 million for the quarter, compared to the consensus estimate of $50.10 million. During the same quarter last year, the business posted ($0.56) earnings per share. The company’s revenue for the quarter was up 61.2% on a year-over-year basis. On average, equities research analysts expect that PROCEPT BioRobotics will post -1.88 earnings per share 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).