PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have received an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $97.86.

Several analysts have issued reports on the company. Bank of America upped their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price for the company. TD Cowen upped their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price for the company. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT opened at $89.24 on Monday. PROCEPT BioRobotics has a 12 month low of $39.48 and a 12 month high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business has a 50-day moving average of $87.04 and a 200-day moving average of $75.63.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. The company had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. PROCEPT BioRobotics’s revenue was up 66.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. As a group, sell-side analysts expect that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In related 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 value of $26,249,951.00. Following the completion of the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 52.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at $6,964,077.12. The trade was a 20.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 487,816 shares of company stock worth $44,820,549. 17.40% of the stock is currently owned by insiders.

Institutional Trading of PROCEPT BioRobotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC lifted its stake in PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after acquiring an additional 233,430 shares during the period. M&G Plc purchased a new stake in PROCEPT BioRobotics in the second quarter worth $8,507,000. Federated Hermes Inc. lifted its stake in PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after acquiring an additional 162,785 shares during the period. Nicholas Investment Partners LP purchased a new stake in PROCEPT BioRobotics in the second quarter worth $4,657,000. Finally, Penserra Capital Management LLC purchased a new position in PROCEPT BioRobotics during the third quarter valued at $2,308,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

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).