PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Given Average Rating of “Hold” by Brokerages

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $40.8182.

A number of equities analysts have recently commented on the stock. Oppenheimer reiterated a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. UBS Group assumed coverage on PROCEPT BioRobotics in a report on Friday, December 12th. They issued a “buy” rating and a $62.00 price objective for the company. Wells Fargo & Company cut their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Piper Sandler reduced their price target on PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Finally, Leerink Partners decreased their price target on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $26.36 on Friday. The stock’s 50-day moving average is $27.45 and its 200-day moving average is $31.54. PROCEPT BioRobotics has a 1-year low of $19.35 and a 1-year high of $66.85. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.49 billion, a P/E ratio of -15.42 and a beta of 1.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The business had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. During the same quarter last year, the business earned ($0.35) EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 5,363 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $25.96, for a total value of $139,223.48. Following the transaction, the executive vice president owned 105,354 shares in the company, valued at approximately $2,734,989.84. The trade was a 4.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin Waters sold 6,721 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $159,287.70. Following the completion of the sale, the executive vice president directly owned 152,264 shares in the company, valued at approximately $3,608,656.80. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have purchased 426,262 shares of company stock worth $10,483,091 and have sold 23,229 shares worth $573,466. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC grew its stake in shares of PROCEPT BioRobotics by 1.3% in the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock valued at $1,158,000 after buying an additional 250 shares during the period. Vega Investment Solutions increased its position 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 in the last quarter. Frank Rimerman Advisors LLC raised its stake in PROCEPT BioRobotics by 0.3% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock worth $4,368,000 after buying an additional 307 shares during the period. 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 worth $115,000 after acquiring an additional 337 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in PROCEPT BioRobotics by 4.7% in the fourth quarter. ProShare Advisors LLC now owns 9,726 shares of the company’s stock worth $306,000 after acquiring an additional 438 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

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.