PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Given Average Recommendation of “Moderate Buy” by Brokerages

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $53.40.

PRCT has been the subject of several research reports. TD Cowen dropped their target price on shares of PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $50.00 price objective (down from $55.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Morgan Stanley cut their price objective on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Bank of America restated a “neutral” rating and set a $38.00 target price (down from $55.00) on shares of PROCEPT BioRobotics in a report on Monday, December 8th. Finally, Wells Fargo & Company cut their price target on shares of PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th.

Institutional Investors Weigh In On PROCEPT BioRobotics

Hedge funds have recently added to or reduced their stakes in the business. JTC Employer Solutions Trustee Ltd acquired a new position in shares of PROCEPT BioRobotics in the third quarter worth $30,000. Center for Financial Planning Inc. acquired a new position in PROCEPT BioRobotics during the 4th quarter worth $40,000. Vega Investment Solutions increased its holdings in PROCEPT BioRobotics by 52.0% during the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after purchasing an additional 265 shares during the period. US Bancorp DE increased its holdings in PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after purchasing an additional 1,079 shares during the period. Finally, AlphaQuest LLC raised its position in PROCEPT BioRobotics by 1,262.5% in the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock valued at $63,000 after purchasing an additional 1,010 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Up 4.9%

Shares of PRCT opened at $28.74 on Friday. The company’s 50-day moving average price is $32.02 and its 200 day moving average price is $35.90. PROCEPT BioRobotics has a 12-month low of $26.66 and a 12-month high of $73.35. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.61 billion, a P/E ratio of -18.78 and a beta of 0.99.

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

About PROCEPT BioRobotics

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.