FY2024 Earnings Estimate for PRCT Issued By Leerink Partnrs

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Research analysts at Leerink Partnrs lifted their FY2024 earnings per share estimates for PROCEPT BioRobotics in a research note issued on Monday, October 28th. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings per share of ($1.76) for the year, up from their previous estimate of ($1.89). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.88) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.35) EPS, Q4 2025 earnings at ($0.21) EPS, FY2025 earnings at ($1.25) EPS and FY2026 earnings at ($0.76) EPS.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The firm’s revenue for the quarter was up 66.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.51) EPS.

Several other research firms have also recently issued reports on PRCT. TD Cowen lifted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Bank of America boosted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday. Wells Fargo & Company increased their target price 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. Finally, Piper Sandler restated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $88.40.

PROCEPT BioRobotics Stock Down 3.3 %

PRCT stock opened at $90.00 on Thursday. PROCEPT BioRobotics has a 52 week low of $24.91 and a 52 week high of $99.34. The company has a quick ratio of 6.49, a current ratio of 7.51 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $77.20 and a 200-day simple moving average of $67.91. The stock has a market capitalization of $4.67 billion, a P/E ratio of -46.02 and a beta of 1.03.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the transaction, the director now owns 23,963 shares in the company, valued at $1,824,063.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Antal Rohit Desai sold 35,220 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now directly owns 23,963 shares of the company’s stock, valued at approximately $1,824,063.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 468,353 shares of company stock worth $40,196,366 in the last three months. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several large investors have recently modified their holdings of PRCT. Vanguard Group Inc. raised its holdings in PROCEPT BioRobotics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock valued at $175,376,000 after buying an additional 109,694 shares during the period. Diversified Trust Co lifted its holdings in shares of PROCEPT BioRobotics by 25.4% in the 1st quarter. Diversified Trust Co now owns 13,442 shares of the company’s stock worth $664,000 after acquiring an additional 2,725 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of PROCEPT BioRobotics by 98.2% during the 1st quarter. Principal Financial Group Inc. now owns 20,983 shares of the company’s stock worth $1,037,000 after purchasing an additional 10,395 shares during the period. SpiderRock Advisors LLC acquired a new stake in PROCEPT BioRobotics in the 1st quarter valued at approximately $307,000. Finally, Essex Investment Management Co. LLC raised its position in PROCEPT BioRobotics by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock valued at $2,971,000 after purchasing an additional 336 shares during the period. Institutional investors and hedge funds own 89.46% 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).