PROCEPT BioRobotics (NASDAQ:PRCT) Coverage Initiated at Jefferies Financial Group

Stock analysts at Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $95.00 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 2.98% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Bank of America raised their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, TD Cowen raised their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

PROCEPT BioRobotics Trading Down 3.5 %

NASDAQ:PRCT opened at $92.25 on Thursday. The company has a market cap of $4.81 billion, a PE ratio of -47.31 and a beta of 1.01. The business’s 50 day moving average is $80.53 and its two-hundred day moving average is $70.96. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a 52 week low of $31.57 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the prior year, the company earned ($0.51) earnings per share. The firm’s revenue was up 66.4% compared to the same quarter last year. On average, analysts predict that PROCEPT BioRobotics will post -1.74 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 13,305 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the transaction, the director now owns 317,518 shares of the company’s stock, valued at $24,248,849.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the sale, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Antal Rohit Desai sold 13,305 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the sale, the director now directly owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 535,353 shares of company stock worth $46,627,426 over the last quarter. 17.40% of the stock is currently owned by company insiders.

Institutional Trading of PROCEPT BioRobotics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of PROCEPT BioRobotics by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after purchasing an additional 62,164 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth about $72,563,000. Bellevue Group AG grew its stake in PROCEPT BioRobotics by 0.5% during the 1st quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after acquiring an additional 4,768 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PROCEPT BioRobotics by 13.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company’s stock valued at $32,254,000 after purchasing an additional 46,665 shares during the period. Finally, Driehaus Capital Management LLC lifted its position in shares of PROCEPT BioRobotics by 25.9% in the second quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock worth $21,344,000 after purchasing an additional 71,930 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).