PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Average Recommendation of “Hold” from Analysts

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

Several research firms have commented on PRCT. TD Cowen cut their price target on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wall Street Zen raised PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Leerink Partners cut their price target on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 6,892 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $163,340.40. Following the completion of the transaction, the executive vice president owned 114,264 shares of the company’s stock, valued at $2,708,056.80. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin Waters sold 6,721 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $159,287.70. Following the completion of the transaction, the executive vice president directly owned 152,264 shares of the company’s stock, valued at approximately $3,608,656.80. This trade represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 426,262 shares of company stock valued at $10,483,091 and sold 23,229 shares valued at $573,466. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd grew its stake in shares of PROCEPT BioRobotics by 436.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock valued at $29,000 after purchasing an additional 746 shares during the period. Center for Financial Planning Inc. bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at approximately $40,000. US Bancorp DE grew its stake 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 valued at $60,000 after purchasing an additional 1,079 shares during the period. Finally, Cache Advisors LLC bought a new stake in shares of PROCEPT BioRobotics in the 1st quarter valued at approximately $42,000. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $21.71 on Thursday. The firm’s 50-day moving average is $25.24 and its 200-day moving average is $29.56. PROCEPT BioRobotics has a 52-week low of $19.35 and a 52-week high of $66.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -12.70 and a beta of 0.94.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The company had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.65 million. During the same quarter in the previous year, the business posted ($0.45) EPS. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Equities research analysts anticipate that PROCEPT BioRobotics will post -1.58 earnings per share for the current year.

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.