PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Consensus Recommendation of “Hold” from Brokerages

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) has earned an average rating of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $41.4545.

Several equities research analysts recently issued reports on the company. Robert W. Baird started coverage on PROCEPT BioRobotics in a research report on Friday, March 6th. They set a “neutral” rating and a $30.00 price target on the stock. Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Bank of America lowered shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price target (up from $28.00) on shares of PROCEPT BioRobotics in a report on Thursday, April 30th.

PROCEPT BioRobotics Stock Up 0.2%

Shares of PROCEPT BioRobotics stock opened at $29.00 on Monday. The business has a 50-day moving average price of $25.40 and a 200 day moving average price of $28.70. PROCEPT BioRobotics has a fifty-two week low of $19.35 and a fifty-two week high of $66.85. The firm has a market cap of $1.65 billion, a P/E ratio of -15.93 and a beta of 0.83. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). The firm had revenue of $83.13 million for the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.45) EPS. On average, sell-side analysts forecast that PROCEPT BioRobotics will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kevin Waters sold 6,721 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 152,264 shares of the company’s stock, valued at approximately $3,608,656.80. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alaleh Nouri sold 5,363 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $25.96, for a total value of $139,223.48. Following the sale, the executive vice president owned 105,354 shares in the company, valued at $2,734,989.84. The trade was a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 426,262 shares of company stock worth $10,483,091 and have sold 23,229 shares worth $573,466. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Essential Partners LLC increased its position in PROCEPT BioRobotics by 7,071.4% in the first quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after buying an additional 1,980 shares during the period. Bank of America Corp DE boosted its holdings in shares of PROCEPT BioRobotics by 46.3% during the first quarter. Bank of America Corp DE now owns 630,689 shares of the company’s stock valued at $15,774,000 after acquiring an additional 199,484 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of PROCEPT BioRobotics by 12.7% during the first quarter. Janus Henderson Group PLC now owns 384,246 shares of the company’s stock valued at $9,610,000 after acquiring an additional 43,405 shares during the period. Amundi grew its position in shares of PROCEPT BioRobotics by 16.2% during the first quarter. Amundi now owns 23,394 shares of the company’s stock worth $585,000 after acquiring an additional 3,260 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of PROCEPT BioRobotics by 34.3% during the first quarter. California State Teachers Retirement System now owns 70,184 shares of the company’s stock worth $1,755,000 after acquiring an additional 17,937 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

About PROCEPT BioRobotics

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.