Brokerages Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Price Target at $97.86

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $97.86.

PRCT has been the subject of several research analyst reports. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective for the company. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Morgan Stanley assumed coverage on shares of PROCEPT BioRobotics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price objective on the stock. TD Cowen increased their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. This represents a 20.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Reza Zadno sold 26,423 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the completion of the transaction, the chief executive officer now directly owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. This trade represents a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 512,816 shares of company stock valued at $46,883,299 over the last ninety days. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC raised its holdings in PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after purchasing an additional 233,430 shares during the last quarter. Franklin Resources Inc. increased its position in shares of PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after buying an additional 347,330 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth $64,000. Neo Ivy Capital Management purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth about $228,000. Finally, Geode Capital Management LLC grew its stake in PROCEPT BioRobotics by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock valued at $88,678,000 after acquiring an additional 84,244 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Down 0.6 %

Shares of PROCEPT BioRobotics stock opened at $89.24 on Monday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $87.04 and a 200-day simple moving average of $75.47. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -45.76 and a beta of 0.99. PROCEPT BioRobotics has a 12-month low of $39.48 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The company had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business’s quarterly revenue was up 66.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.51) earnings per share. On average, equities analysts forecast that PROCEPT BioRobotics will post -1.75 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).