PROCEPT BioRobotics (NASDAQ:PRCT) Price Target Lowered to $28.00 at Piper Sandler

PROCEPT BioRobotics (NASDAQ:PRCTGet Free Report) had its price target decreased by analysts at Piper Sandler from $50.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 27.00% from the company’s current price.

Several other analysts also recently commented on the company. Jefferies Financial Group upgraded PROCEPT BioRobotics from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. UBS Group assumed coverage on PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Thursday, January 22nd. Wells Fargo & Company lowered their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Bank of America downgraded PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and cut their price target for the company from $38.00 to $20.00 in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and a consensus price target of $47.70.

Read Our Latest Stock Analysis on PROCEPT BioRobotics

PROCEPT BioRobotics Stock Down 20.8%

Shares of NASDAQ:PRCT traded down $5.79 on Thursday, hitting $22.05. 4,546,793 shares of the company traded hands, compared to its average volume of 1,303,223. The stock has a 50 day simple moving average of $30.37 and a 200-day simple moving average of $33.71. The company has a quick ratio of 7.20, a current ratio of 8.44 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.23 billion, a PE ratio of -14.21 and a beta of 0.99. PROCEPT BioRobotics has a 52 week low of $19.35 and a 52 week high of $68.70.

PROCEPT BioRobotics (NASDAQ:PRCTGet Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The firm had revenue of $76.38 million for the quarter, compared to analysts’ expectations of $93.70 million. PROCEPT BioRobotics had a negative net margin of 28.20% and a negative return on equity of 21.72%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. As a group, research analysts expect that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its stake in PROCEPT BioRobotics by 436.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after acquiring an additional 746 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in PROCEPT BioRobotics during the 3rd quarter valued at $30,000. Center for Financial Planning Inc. bought a new stake in PROCEPT BioRobotics in the fourth quarter worth $40,000. Vega Investment Solutions boosted its stake in PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after buying an additional 265 shares during the period. Finally, US Bancorp DE boosted its stake in PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after buying an additional 1,079 shares during the period. Institutional investors own 89.46% of the company’s stock.

More PROCEPT BioRobotics News

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About PROCEPT BioRobotics

(Get Free Report)

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.

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Analyst Recommendations for PROCEPT BioRobotics (NASDAQ:PRCT)

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