PROCEPT BioRobotics (NASDAQ:PRCT) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

PROCEPT BioRobotics (NASDAQ:PRCT) released its quarterly earnings data on Wednesday. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21), FiscalAI reports. PROCEPT BioRobotics had a negative net margin of 28.20% and a negative return on equity of 21.72%. The firm had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT traded up $0.58 on Wednesday, hitting $27.84. 2,418,789 shares of the company were exchanged, compared to its average volume of 1,214,609. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $30.49 and its 200 day moving average price is $33.75. PROCEPT BioRobotics has a 1-year low of $26.23 and a 1-year high of $70.80. The firm has a market capitalization of $1.56 billion, a P/E ratio of -18.20 and a beta of 0.99.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen reduced their price target on shares of PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Morgan Stanley reduced their price objective on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, December 2nd. Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Truist Financial reduced their price target on PROCEPT BioRobotics from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Finally, Wells Fargo & Company decreased their price objective on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.40.

Institutional Trading of PROCEPT BioRobotics

Several large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted 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. US Bancorp DE raised its position in PROCEPT BioRobotics by 175.7% during 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. Kestra Advisory Services LLC acquired a new stake in PROCEPT BioRobotics during the 4th quarter valued at approximately $68,000. Lazard Asset Management LLC lifted its position in PROCEPT BioRobotics by 90.7% during the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock valued at $98,000 after purchasing an additional 810 shares during the period. Finally, 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 valued at $115,000 after purchasing an additional 337 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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.