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

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

Several research analysts have commented on the company. Morgan Stanley cut their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial reissued a “buy” rating and set a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd.

PROCEPT BioRobotics Stock Performance

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

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results 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). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. Equities analysts anticipate that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in PROCEPT BioRobotics by 19.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,391 shares of the company’s stock worth $11,224,000 after acquiring an additional 22,931 shares during the period. Voloridge Investment Management LLC raised its position in shares of PROCEPT BioRobotics by 60.4% during the 4th quarter. Voloridge Investment Management LLC now owns 454,374 shares of the company’s stock worth $36,586,000 after purchasing an additional 171,029 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of PROCEPT BioRobotics by 237.1% in the 4th quarter. Two Sigma Advisers LP now owns 90,000 shares of the company’s stock worth $7,247,000 after purchasing an additional 63,300 shares during the last quarter. Two Sigma Investments LP boosted its position in PROCEPT BioRobotics by 91.0% during the 4th quarter. Two Sigma Investments LP now owns 353,716 shares of the company’s stock valued at $28,481,000 after purchasing an additional 168,505 shares during the period. Finally, Summit Partners Public Asset Management LLC grew its stake in PROCEPT BioRobotics by 1.6% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 551,767 shares of the company’s stock worth $44,428,000 after buying an additional 8,721 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

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).