PROCEPT BioRobotics (NASDAQ:PRCT) Sets New 52-Week Low – Here’s What Happened

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) shares hit a new 52-week low during trading on Thursday . The company traded as low as $26.62 and last traded at $26.7250, with a volume of 452063 shares changing hands. The stock had previously closed at $27.72.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Jefferies Financial Group upgraded PROCEPT BioRobotics from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. Piper Sandler restated an “overweight” rating and issued a $50.00 price objective (down previously from $55.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. UBS Group began coverage on shares of PROCEPT BioRobotics in a report on Friday, December 12th. They issued a “buy” rating and a $62.00 price target on the stock. Finally, Truist Financial dropped their price target on PROCEPT BioRobotics from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.40.

PROCEPT BioRobotics Price Performance

The firm has a 50-day moving average of $31.18 and a 200 day moving average of $34.30. The company has a market capitalization of $1.50 billion, a PE ratio of -17.55 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.44 and a quick ratio of 7.20.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised 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 acquiring an additional 746 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $30,000. Center for Financial Planning Inc. bought a new position in PROCEPT BioRobotics in the 4th quarter worth $40,000. Vega Investment Solutions lifted its position in PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after purchasing an additional 265 shares in the last quarter. Finally, US Bancorp DE grew its holdings in PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares during the period. Hedge funds and other 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.