PROCEPT BioRobotics (NASDAQ:PRCT) Upgraded at Wall Street Zen

PROCEPT BioRobotics (NASDAQ:PRCT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other equities research analysts also recently issued reports on PRCT. Oppenheimer upgraded shares of PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Tuesday, September 2nd. Morgan Stanley dropped their price target on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday. Leerink Partners restated an “outperform” rating and issued a $55.00 price target on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. TD Cowen lowered their price objective on PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $50.00 target price (down previously from $55.00) on shares of PROCEPT BioRobotics in a report on Wednesday, November 5th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.89.

PROCEPT BioRobotics Trading Up 1.2%

Shares of PROCEPT BioRobotics stock opened at $35.86 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.44 and a quick ratio of 7.20. The business has a fifty day simple moving average of $33.03 and a two-hundred day simple moving average of $44.36. PROCEPT BioRobotics has a 1 year low of $27.80 and a 1 year high of $97.49. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -23.44 and a beta of 0.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.03. The firm had revenue of $83.33 million for the quarter, compared to the consensus estimate of $80.78 million. PROCEPT BioRobotics had a negative net margin of 28.20% and a negative return on equity of 21.72%. The company’s quarterly revenue was up 42.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.40) earnings per share. Research analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRCT. BI Asset Management Fondsmaeglerselskab A S acquired a new position in PROCEPT BioRobotics in the first quarter valued at about $40,000. Vega Investment Solutions increased its holdings in PROCEPT BioRobotics by 52.0% in the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after buying an additional 265 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at approximately $30,000. AlphaQuest LLC lifted its holdings in shares of PROCEPT BioRobotics by 1,262.5% during the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after acquiring an additional 1,010 shares during the period. Finally, CWM LLC boosted its position in shares of PROCEPT BioRobotics by 40.7% during the 2nd quarter. CWM LLC now owns 1,228 shares of the company’s stock worth $71,000 after acquiring an additional 355 shares in the last quarter. Institutional investors 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).