PROCEPT BioRobotics (NASDAQ:PRCT) Shares Gap Down – Should You Sell?

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) gapped down prior to trading on Monday . The stock had previously closed at $35.86, but opened at $33.62. PROCEPT BioRobotics shares last traded at $33.8250, with a volume of 520,174 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on PRCT. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial cut their price objective on shares of PROCEPT BioRobotics from $64.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Oppenheimer upgraded shares of PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Tuesday, September 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $50.00 target price (down from $55.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Finally, BTIG Research reissued a “neutral” rating on shares of PROCEPT BioRobotics in a research note on Tuesday, September 16th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.78.

PROCEPT BioRobotics Price Performance

The company’s 50-day moving average is $32.97 and its 200-day moving average is $43.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.44 and a quick ratio of 7.20. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -22.88 and a beta of 0.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.03. The firm had revenue of $83.33 million during the quarter, compared to analyst estimates of $80.78 million. PROCEPT BioRobotics had a negative net margin of 28.20% and a negative return on equity of 21.72%. PROCEPT BioRobotics’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.40) earnings per share. On average, research analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in PROCEPT BioRobotics by 24.0% during the third quarter. IFP Advisors Inc now owns 5,024 shares of the company’s stock valued at $179,000 after acquiring an additional 974 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $227,000. Voleon Capital Management LP acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $236,000. Verition Fund Management LLC grew its holdings in shares of PROCEPT BioRobotics by 76.7% during the 3rd quarter. Verition Fund Management LLC now owns 61,793 shares of the company’s stock worth $2,205,000 after purchasing an additional 26,815 shares during the period. Finally, Scientech Research LLC acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth approximately $269,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

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).