PROCEPT BioRobotics (PRCT) Set to Announce Earnings on Monday

PROCEPT BioRobotics (NASDAQ:PRCT) is scheduled to be releasing its earnings data before the market opens on Monday, October 28th. Analysts expect PROCEPT BioRobotics to post earnings of ($0.48) per share for the quarter. PROCEPT BioRobotics has set its FY 2024 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its 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 firm had revenue of $53.35 million for the quarter, compared to analysts’ expectations of $50.10 million. During the same quarter last year, the firm earned ($0.56) earnings per share. The firm’s revenue for the quarter 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 Price Performance

Shares of PROCEPT BioRobotics stock opened at $68.77 on Friday. The business’s fifty day moving average price is $75.86 and its 200 day moving average price is $66.93. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics has a twelve month low of $24.83 and a twelve month high of $85.81. The stock has a market capitalization of $3.57 billion, a P/E ratio of -33.38 and a beta of 1.03.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have commented on PRCT. Truist Financial raised their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. TD Cowen boosted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Piper Sandler restated an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Bank of America lifted their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $86.40.

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).