PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $94.29.

A number of brokerages have issued reports on PRCT. Morgan Stanley decreased their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Finally, Truist Financial reissued a “buy” rating and issued a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the sale, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,455 shares of company stock valued at $368,322. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently bought and sold shares of PRCT. Raleigh Capital Management Inc. purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $32,000. Thematics Asset Management purchased a new stake in PROCEPT BioRobotics in the 4th quarter worth approximately $46,000. Signaturefd LLC boosted its stake in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after buying an additional 145 shares during the period. IFP Advisors Inc purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at $58,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of PROCEPT BioRobotics in the third quarter worth $64,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Up 2.7 %

PRCT opened at $62.53 on Wednesday. The stock’s 50 day moving average price is $66.71 and its 200 day moving average price is $78.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock has a market cap of $3.43 billion, a P/E ratio of -32.07 and a beta of 1.05. PROCEPT BioRobotics has a 12 month low of $45.56 and a 12 month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The company had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, research analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current 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).