PROCEPT BioRobotics (NASDAQ:PRCT) Hits New 12-Month Low – Time to Sell?

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) reached a new 52-week low on Wednesday . The company traded as low as $17.93 and last traded at $17.9250, with a volume of 221922 shares changing hands. The stock had previously closed at $18.52.

Analyst Ratings Changes

Several analysts have recently commented on PRCT shares. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a report on Thursday, April 30th. Leerink Partners cut shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $31.00 to $29.00 in a report on Thursday, June 11th. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Evercore began coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics has an average rating of “Hold” and an average price target of $37.27.

PROCEPT BioRobotics Stock Down 0.8%

The stock has a 50 day moving average price of $23.53 and a 200 day moving average price of $25.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The company has a market capitalization of $998.95 million, a P/E ratio of -9.64 and a beta of 0.87.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data 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 company had revenue of $83.13 million for the quarter, compared to analysts’ expectations of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.45) EPS. Equities research analysts forecast that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of hedge funds have recently modified their holdings of PRCT. Caitong International Asset Management Co. Ltd increased its position in PROCEPT BioRobotics by 436.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after buying an additional 746 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of PROCEPT BioRobotics by 994.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock valued at $27,000 after buying an additional 1,084 shares during the last quarter. Center for Financial Planning Inc. bought a new position in shares of PROCEPT BioRobotics during the 4th quarter worth $40,000. US Bancorp DE grew its stake in shares of PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after acquiring an additional 1,079 shares during the period. Finally, Cache Advisors LLC purchased a new stake in PROCEPT BioRobotics in the 1st quarter worth about $42,000. 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.