PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $97.86 Average PT from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $97.86.

PRCT has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a report on Monday, December 2nd. They set an “overweight” rating and a $105.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $84.30 on Friday. The company has a market cap of $4.40 billion, a PE ratio of -43.23 and a beta of 0.99. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a 52 week low of $39.48 and a 52 week high of $103.81. The business has a 50 day moving average price of $90.82 and a 200-day moving average price of $77.37.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million for the quarter, compared to analysts’ expectations 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 revenue was up 66.4% on a year-over-year basis. During the same period last year, the business earned ($0.51) EPS. Equities analysts anticipate that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at $5,096,605.36. The trade was a 34.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Waters sold 25,000 shares of the firm’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 completion of the transaction, 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 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 487,816 shares of company stock worth $44,820,549 over the last ninety days. 17.40% of the stock is currently owned by company insiders.

Institutional Trading of PROCEPT BioRobotics

A number of institutional investors have recently added to or reduced their stakes in PRCT. Values First Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics in the third quarter worth about $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $36,000. Quest Partners LLC lifted its stake in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after purchasing an additional 648 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $64,000. Finally, Canton Hathaway LLC purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $66,000. Hedge funds and other institutional investors 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).