PROCEPT BioRobotics (NASDAQ:PRCT) Research Coverage Started at Robert W. Baird

Robert W. Baird assumed coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a report published on Friday, Marketbeat.com reports. The firm issued a neutral rating and a $30.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. TD Cowen lowered their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Wall Street Zen cut shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.82.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock opened at $24.22 on Friday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -14.16 and a beta of 1.03. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $29.25 and its 200-day simple moving average is $32.93. PROCEPT BioRobotics has a 52 week low of $19.35 and a 52 week high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The business had revenue of $76.38 million for the quarter, compared to analysts’ expectations of $93.70 million. PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) EPS. As a group, analysts expect that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its position in PROCEPT BioRobotics by 436.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after purchasing an additional 746 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in PROCEPT BioRobotics during the third quarter valued at $30,000. Center for Financial Planning Inc. purchased a new position in shares of PROCEPT BioRobotics in the 4th quarter worth $40,000. Vega Investment Solutions grew its stake in shares of PROCEPT BioRobotics by 52.0% in the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after buying an additional 265 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of PROCEPT BioRobotics by 175.7% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after buying an additional 1,079 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Company Profile

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.