PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives $53.40 Consensus Price Target from Analysts

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $53.40.

PRCT has been the topic of several recent research reports. Bank of America restated a “neutral” rating and set a $38.00 target price (down previously from $55.00) on shares of PROCEPT BioRobotics in a report on Monday, December 8th. Truist Financial reduced their price objective on PROCEPT BioRobotics from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Piper Sandler reiterated an “overweight” rating and set a $50.00 target price (down from $55.00) on shares of PROCEPT BioRobotics in a report on Wednesday, November 5th. Finally, Morgan Stanley reduced their price target on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vega Investment Solutions lifted its stake in PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after purchasing an additional 265 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at $30,000. AlphaQuest LLC lifted its position in shares of PROCEPT BioRobotics by 1,262.5% during the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock valued at $63,000 after acquiring an additional 1,010 shares during the last quarter. CWM LLC boosted its stake in shares of PROCEPT BioRobotics by 40.7% during the 2nd quarter. CWM LLC now owns 1,228 shares of the company’s stock worth $71,000 after acquiring an additional 355 shares in the last quarter. Finally, US Bancorp DE grew 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 acquiring an additional 1,079 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $30.50 on Tuesday. The business’s fifty day moving average price is $32.26 and its two-hundred day moving average price is $39.05. The stock has a market cap of $1.70 billion, a PE ratio of -19.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.20 and a current ratio of 8.44. PROCEPT BioRobotics has a one year low of $27.80 and a one year high of $79.29.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.38) EPS for the quarter, topping 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 the consensus estimate of $80.78 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. The company’s quarterly revenue was up 42.6% compared to the same quarter last year. On average, analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

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.