PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 5.9% – Should You Buy?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) shares were up 5.9% on Friday . The company traded as high as $20.91 and last traded at $20.9250. 440,550 shares were traded during trading, a decline of 72% from the average daily volume of 1,567,738 shares. The stock had previously closed at $19.75.

Analyst Upgrades and Downgrades

PRCT has been the subject of a number of research reports. Wall Street Zen raised shares of PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Leerink Partners cut PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $31.00 to $29.00 in a research report on Thursday, June 11th. Piper Sandler reiterated an “overweight” rating and set a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a report on Thursday, April 30th. Truist Financial reissued a “hold” rating and issued a $25.00 target price (down from $30.00) on shares of PROCEPT BioRobotics in a research report on Thursday, July 2nd. Finally, Citigroup cut PROCEPT BioRobotics to a “hold” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.27.

PROCEPT BioRobotics Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The business has a 50-day moving average price of $24.75 and a 200 day moving average price of $26.69. The stock has a market capitalization of $1.19 billion, a P/E ratio of -11.48 and a beta of 0.87.

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

Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in PROCEPT BioRobotics by 142.0% during the 4th quarter. SG Americas Securities LLC now owns 84,294 shares of the company’s stock valued at $2,652,000 after purchasing an additional 49,457 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of PROCEPT BioRobotics by 18.3% in the fourth quarter. Baillie Gifford & Co. now owns 1,015,978 shares of the company’s stock worth $31,963,000 after purchasing an additional 157,147 shares during the last quarter. Prosight Management LP purchased a new position in shares of PROCEPT BioRobotics in the third quarter worth $2,748,000. B. Metzler seel. Sohn & Co. AG bought a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at $1,864,000. Finally, DNB Asset Management AS lifted its holdings in shares of PROCEPT BioRobotics by 213.9% during the fourth quarter. DNB Asset Management AS now owns 99,567 shares of the company’s stock valued at $3,132,000 after purchasing an additional 67,848 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

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.