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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $97.86.

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

Insider Activity

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 26,420 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total transaction of $2,584,668.60. Following the completion of the sale, the chief executive officer now directly owns 179,185 shares of the company’s stock, valued at approximately $17,529,668.55. This trade represents a 12.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antal Rohit Desai sold 34,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total value of $3,243,260.00. Following the completion of the transaction, the director now directly owns 164,363 shares in the company, valued at approximately $15,678,586.57. The trade was a 17.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,355 shares of company stock valued at $16,758,848. 17.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Westfield Capital Management Co. LP acquired a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $72,563,000. Perpetual Ltd purchased a new stake in PROCEPT BioRobotics in the 4th quarter valued at approximately $66,972,000. Franklin Resources Inc. raised its stake in shares of PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after buying an additional 347,330 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of PROCEPT BioRobotics by 218.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock valued at $33,350,000 after buying an additional 275,071 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after buying an additional 233,430 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Trading Down 1.9 %

PRCT stock opened at $71.57 on Tuesday. PROCEPT BioRobotics has a 12-month low of $45.20 and a 12-month high of $103.81. The business’s 50-day moving average is $84.87 and its 200 day moving average is $79.30. 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 stock has a market cap of $3.73 billion, a price-to-earnings ratio of -36.70 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. The firm had revenue of $58.40 million during 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 firm’s revenue for the quarter was up 66.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share. On average, sell-side analysts anticipate that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

PROCEPT BioRobotics Company Profile

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).