PROCEPT BioRobotics (NASDAQ:PRCT) Price Target Raised to $75.00 at TD Cowen

PROCEPT BioRobotics (NASDAQ:PRCT) had its target price raised by investment analysts at TD Cowen from $65.00 to $75.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 22.65% from the company’s current price.

Several other brokerages have also recently issued reports on PRCT. Wells Fargo & Company boosted their price target on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Piper Sandler increased their target price on PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Truist Financial raised their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Buy” and a consensus target price of $61.20.

PROCEPT BioRobotics Stock Performance

PRCT traded down $3.16 during trading on Monday, hitting $61.15. The stock had a trading volume of 663,267 shares, compared to its average volume of 538,907. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.52 and a quick ratio of 7.44. The company has a 50 day moving average price of $50.25 and a 200-day moving average price of $43.82. PROCEPT BioRobotics has a one year low of $24.83 and a one year high of $65.00. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -28.77 and a beta of 0.95.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million during the quarter, compared to analysts’ expectations of $41.58 million. During the same quarter in the previous year, the business posted ($0.63) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 82.4% on a year-over-year basis. As a group, research analysts predict that PROCEPT BioRobotics will post -1.96 EPS for the current year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 904 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the sale, the chief financial officer now directly owns 33,523 shares in the company, valued at $1,676,150. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 14,694 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $49.97, for a total value of $734,259.18. Following the completion of the transaction, the executive vice president now owns 47,351 shares in the company, valued at approximately $2,366,129.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now owns 33,523 shares in the company, valued at $1,676,150. The disclosure for this sale can be found here. Insiders have sold 144,581 shares of company stock worth $7,770,023 in the last 90 days. Insiders own 19.60% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently bought and sold shares of PRCT. Amalgamated Bank lifted its position in PROCEPT BioRobotics by 5.8% during the fourth quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock valued at $243,000 after purchasing an additional 316 shares during the period. Essex Investment Management Co. LLC raised its holdings in shares of PROCEPT BioRobotics by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock worth $2,971,000 after acquiring an additional 336 shares in the last quarter. Principal Financial Group Inc. grew its position in PROCEPT BioRobotics by 5.7% in the fourth quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock worth $444,000 after acquiring an additional 568 shares in the last quarter. Blue Trust Inc. raised its stake in shares of PROCEPT BioRobotics by 30.9% in the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after acquiring an additional 620 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PROCEPT BioRobotics by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,397 shares of the company’s stock valued at $394,000 after buying an additional 676 shares during the period. 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).