Wall Street Zen Downgrades PROCEPT BioRobotics (NASDAQ:PRCT) to Sell

PROCEPT BioRobotics (NASDAQ:PRCT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

PRCT has been the topic of several other research reports. Leerink Partners reiterated an “outperform” rating and set a $55.00 price target on shares of PROCEPT BioRobotics in a research report on Wednesday, November 5th. UBS Group began coverage on PROCEPT BioRobotics in a report on Friday. They issued a “buy” rating and a $62.00 target price on the stock. Jefferies Financial Group upgraded PROCEPT BioRobotics from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company dropped their price objective on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of PROCEPT BioRobotics in a research note on Tuesday, September 16th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and an average price target of $53.70.

PROCEPT BioRobotics Stock Performance

PRCT opened at $35.99 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.20 and a current ratio of 8.44. PROCEPT BioRobotics has a 52-week low of $27.80 and a 52-week high of $92.92. The firm has a market cap of $2.01 billion, a P/E ratio of -23.52 and a beta of 0.99. The business’s fifty day moving average is $33.01 and its 200-day moving average is $43.48.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Advisory Services Network LLC lifted its holdings in PROCEPT BioRobotics by 1.3% during the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock worth $1,158,000 after buying an additional 250 shares during the period. Vega Investment Solutions raised its position in shares of PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after acquiring an additional 265 shares during the last quarter. Frank Rimerman Advisors LLC lifted its stake in shares of PROCEPT BioRobotics by 0.3% in the third quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock worth $4,368,000 after acquiring an additional 307 shares during the period. RiverPark Advisors LLC boosted its holdings in PROCEPT BioRobotics by 22.5% in the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock valued at $101,000 after acquiring an additional 324 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in PROCEPT BioRobotics by 20.3% in the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after acquiring an additional 337 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

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).