PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Consensus Rating of “Hold” from Analysts

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.2727.

Several equities research analysts have issued reports on PRCT shares. Leerink Partners downgraded PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $31.00 to $29.00 in a report on Thursday, June 11th. Piper Sandler restated an “overweight” rating and issued a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Evercore started coverage on PROCEPT BioRobotics in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Citigroup lowered PROCEPT BioRobotics to a “hold” rating in a report on Thursday, July 2nd.

PROCEPT BioRobotics Stock Up 5.8%

NASDAQ:PRCT traded up $1.14 during trading hours on Tuesday, hitting $20.89. The stock had a trading volume of 1,229,942 shares, compared to its average volume of 1,702,797. The company has a market cap of $1.19 billion, a PE ratio of -11.48 and a beta of 0.87. The business has a 50 day simple moving average of $24.75 and a two-hundred day simple moving average of $26.69. PROCEPT BioRobotics has a 1-year low of $19.35 and a 1-year high of $62.17. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). The firm had revenue of $83.13 million for the quarter, compared to analyst estimates of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.45) earnings per share. Analysts predict that PROCEPT BioRobotics will post -1.53 EPS for the current year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently made changes to their positions in PRCT. Versant Capital Management Inc boosted its holdings in PROCEPT BioRobotics by 994.5% in the second quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock worth $27,000 after purchasing an additional 1,084 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of PROCEPT BioRobotics by 436.3% during 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 period. Center for Financial Planning Inc. acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $40,000. Cache Advisors LLC bought a new position in shares of PROCEPT BioRobotics in the 1st quarter worth about $42,000. Finally, Essential Partners LLC lifted its position in shares of PROCEPT BioRobotics by 7,071.4% in the 1st quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after buying an additional 1,980 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

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.