PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have received an average rating of “Hold” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $40.00.

A number of analysts recently commented on PRCT shares. Wall Street Zen raised PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research report on Thursday, April 30th. Evercore began coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $30.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Finally, Leerink Partners downgraded shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $31.00 to $29.00 in a research note on Thursday, June 11th.

PROCEPT BioRobotics Trading Down 3.0%

Shares of PROCEPT BioRobotics stock traded down $0.63 during trading on Tuesday, reaching $20.58. 366,170 shares of the stock were exchanged, compared to its average volume of 1,564,762. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -11.29 and a beta of 0.87. PROCEPT BioRobotics has a 1 year low of $19.35 and a 1 year high of $62.17. The stock’s fifty day moving average is $24.99 and its 200 day moving average is $27.00.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in PROCEPT BioRobotics by 142.0% in the fourth quarter. SG Americas Securities LLC now owns 84,294 shares of the company’s stock valued at $2,652,000 after purchasing an additional 49,457 shares during the last quarter. Baillie Gifford & Co. boosted its stake in PROCEPT BioRobotics by 18.3% during the 4th quarter. Baillie Gifford & Co. now owns 1,015,978 shares of the company’s stock valued at $31,963,000 after purchasing an additional 157,147 shares in the last quarter. Prosight Management LP bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $2,748,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in PROCEPT BioRobotics during the 4th quarter worth about $1,864,000. Finally, DNB Asset Management AS boosted its stake in PROCEPT BioRobotics by 213.9% during the fourth quarter. DNB Asset Management AS now owns 99,567 shares of the company’s stock worth $3,132,000 after buying an additional 67,848 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

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.