PROCEPT BioRobotics (PRCT) to Release Earnings on Monday

PROCEPT BioRobotics (NASDAQ:PRCT) will announce its earnings results before the market opens on Monday, October 28th. Analysts expect the company to announce earnings of ($0.48) per share for the quarter. PROCEPT BioRobotics has set its FY 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company had revenue of $53.35 million during the quarter, compared to analysts’ expectations of $50.10 million. During the same period in the prior year, the company earned ($0.56) earnings per share. The business’s quarterly revenue was up 61.2% compared to the same quarter last year. On average, analysts expect PROCEPT BioRobotics to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

PROCEPT BioRobotics Stock Up 2.9 %

PRCT stock opened at $68.77 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49. PROCEPT BioRobotics has a 52-week low of $24.83 and a 52-week high of $85.81. The company has a 50-day moving average of $75.86 and a two-hundred day moving average of $66.93. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -33.38 and a beta of 1.03.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective 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. Piper Sandler reissued an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Bank of America raised their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Truist Financial raised their price objective on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, TD Cowen increased their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.40.

Insiders Place Their Bets

In related news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $6,964,077.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $6,964,077.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the transaction, the director now directly owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,892 shares of company stock worth $13,946,415. Company insiders own 17.40% 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).