PROCEPT BioRobotics (NASDAQ:PRCT) Hits New 12-Month Low – Should You Sell?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) shares reached a new 52-week low on Thursday . The company traded as low as $27.23 and last traded at $27.40, with a volume of 1497866 shares. The stock had previously closed at $28.93.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company reduced their price objective on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. TD Cowen reduced their price target on PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Leerink Partners reissued an “outperform” rating and set a $55.00 price target on shares of PROCEPT BioRobotics in a research report on Wednesday, November 5th. Piper Sandler restated an “overweight” rating and set a $50.00 price objective (down from $55.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, November 5th. Finally, Truist Financial decreased their target price on shares of PROCEPT BioRobotics from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and an average target price of $53.40.

PROCEPT BioRobotics Stock Performance

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -17.91 and a beta of 0.99. 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 firm’s fifty day moving average price is $32.17 and its 200 day moving average price is $36.15.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.03. The company had revenue of $83.33 million during the quarter, compared to the consensus estimate of $80.78 million. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.PROCEPT BioRobotics’s revenue was up 42.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) EPS. Analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

A number of large investors have recently made changes to their positions in the company. Alliancebernstein L.P. increased its holdings in shares of PROCEPT BioRobotics by 58.6% in the 3rd quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock valued at $122,052,000 after acquiring an additional 1,262,928 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in PROCEPT BioRobotics by 23.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,970,147 shares of the company’s stock worth $70,315,000 after purchasing an additional 371,798 shares during the period. Chicago Capital LLC boosted its stake in shares of PROCEPT BioRobotics by 175.7% during the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after buying an additional 999,873 shares during the period. Mackenzie Financial Corp increased its holdings in shares of PROCEPT BioRobotics by 105.2% in the third quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company’s stock valued at $51,909,000 after purchasing an additional 745,778 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in PROCEPT BioRobotics by 34.3% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,437,897 shares of the company’s stock valued at $51,319,000 after buying an additional 367,251 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

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.