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

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been given a consensus rating of “Hold” by the fourteen analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $41.3636.

PRCT has been the subject of a number of research reports. TD Cowen reduced their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Leerink Partners cut PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $31.00 to $29.00 in a research report on Thursday. Finally, Bank of America cut PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $20.00 in a research report on Thursday, February 26th.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $27.69 on Friday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -15.21 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. PROCEPT BioRobotics has a one year low of $19.35 and a one year high of $62.85. The stock has a 50-day moving average of $25.83 and a 200 day moving average of $28.38.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data 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 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%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) EPS. On average, sell-side analysts forecast that PROCEPT BioRobotics will post -1.53 EPS for the current year.

Insider Buying and Selling

In related news, EVP Alaleh Nouri sold 5,363 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $25.96, for a total transaction of $139,223.48. Following the completion of the sale, the executive vice president owned 105,354 shares in the company, valued at approximately $2,734,989.84. This represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 7,373 shares of company stock worth $196,135 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of PROCEPT BioRobotics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 in the last quarter. Center for Financial Planning Inc. purchased a new stake in PROCEPT BioRobotics in the fourth quarter worth about $40,000. Cache Advisors LLC purchased a new stake in PROCEPT BioRobotics in the first quarter worth about $42,000. 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 in the last quarter. Finally, US Bancorp DE increased its position in PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after buying an additional 1,079 shares in the last quarter. Hedge funds and other 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.