PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Average Recommendation of “Hold” from Analysts

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) has been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $40.8182.

A number of brokerages have weighed in on PRCT. Wall Street Zen downgraded shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Oppenheimer restated a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Robert W. Baird assumed coverage on shares of PROCEPT BioRobotics in a research report on Friday, March 6th. They set a “neutral” rating and a $30.00 price objective for the company. TD Cowen reduced their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Piper Sandler decreased their target price on PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th.

PROCEPT BioRobotics Stock Performance

PRCT opened at $25.12 on Friday. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $27.03 and its two-hundred day moving average price is $31.24. The firm has a market capitalization of $1.42 billion, a P/E ratio of -14.69 and a beta of 0.94. PROCEPT BioRobotics has a 12-month low of $19.35 and a 12-month high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The business had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) earnings per share. On average, equities analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $159,287.70. Following the sale, the executive vice president owned 152,264 shares of the company’s stock, valued at approximately $3,608,656.80. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antal Rohit Desai acquired 98,699 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were purchased at an average cost of $24.55 per share, for a total transaction of $2,423,060.45. Following the acquisition, the director directly owned 426,262 shares in the company, valued at $10,464,732.10. This represents a 30.13% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in shares of PROCEPT BioRobotics by 7.3% during the 1st quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock worth $1,101,000 after acquiring an additional 1,286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PROCEPT BioRobotics by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after acquiring an additional 13,767 shares during the period. Intech Investment Management LLC raised its position in PROCEPT BioRobotics by 54.4% in the first quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock worth $1,654,000 after purchasing an additional 10,002 shares in the last quarter. Legal & General Group Plc raised its position in PROCEPT BioRobotics by 11.0% in the second quarter. Legal & General Group Plc now owns 57,919 shares of the company’s stock worth $3,336,000 after purchasing an additional 5,752 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in PROCEPT BioRobotics by 20.2% during the second quarter. Rhumbline Advisers now owns 77,384 shares of the company’s stock worth $4,457,000 after purchasing an additional 13,011 shares during the period. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.