PROCEPT BioRobotics (NASDAQ:PRCT) Price Target Raised to $72.00

PROCEPT BioRobotics (NASDAQ:PRCT) had its price target increased by Truist Financial from $63.00 to $72.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 18.21% from the stock’s current price.

Separately, Wells Fargo & Company upped their target price on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics has an average rating of “Buy” and a consensus price target of $49.50.

PROCEPT BioRobotics Stock Up 0.5 %

Shares of PRCT traded up $0.30 during trading hours on Thursday, reaching $60.91. The company’s stock had a trading volume of 129,163 shares, compared to its average volume of 520,049. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -27.19 and a beta of 0.95. The company has a 50 day moving average of $49.69 and a two-hundred day moving average of $43.24. PROCEPT BioRobotics has a 1-year low of $24.83 and a 1-year high of $63.26. The company has a quick ratio of 6.77, a current ratio of 7.63 and a debt-to-equity ratio of 0.18.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.10). The firm had revenue of $43.58 million during the quarter, compared to the consensus estimate of $41.79 million. PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. The company’s quarterly revenue was up 83.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.56) EPS. As a group, research analysts predict that PROCEPT BioRobotics will post -2 EPS for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 2,749 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total value of $128,295.83. Following the completion of the transaction, the executive vice president now directly owns 62,913 shares in the company, valued at $2,936,149.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,391 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $48.83, for a total transaction of $263,242.53. Following the completion of the transaction, the chief executive officer now directly owns 241,319 shares in the company, valued at $11,783,606.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alaleh Nouri sold 2,749 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total value of $128,295.83. Following the sale, the executive vice president now owns 62,913 shares in the company, valued at approximately $2,936,149.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,149 shares of company stock worth $4,653,720. 19.60% of the stock is owned by corporate insiders.

Institutional Trading of PROCEPT BioRobotics

Several large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in PROCEPT BioRobotics by 13.0% in the third quarter. FMR LLC now owns 7,553,460 shares of the company’s stock valued at $247,829,000 after acquiring an additional 870,364 shares during the last quarter. Vanguard Group Inc. boosted its holdings in PROCEPT BioRobotics by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock worth $175,376,000 after buying an additional 109,694 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in PROCEPT BioRobotics by 89.8% during the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock worth $44,144,000 after buying an additional 636,750 shares during the last quarter. Wellington Management Group LLP boosted its holdings in PROCEPT BioRobotics by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock worth $44,663,000 after buying an additional 260,946 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in PROCEPT BioRobotics by 48.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 923,437 shares of the company’s stock worth $30,298,000 after buying an additional 303,003 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).