PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 9.9% – Here’s Why

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) shares rose 9.9% during mid-day trading on Monday . The stock traded as high as $25.79 and last traded at $24.9320. Approximately 2,889,400 shares changed hands during mid-day trading, an increase of 88% from the average daily volume of 1,535,660 shares. The stock had previously closed at $22.69.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PRCT shares. Piper Sandler decreased their price target on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Thursday, January 22nd. UBS Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Friday, December 12th. They issued a “buy” rating and a $62.00 target price on the stock. Truist Financial cut their price target on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America cut PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $20.00 in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Hold” and a consensus target price of $41.90.

PROCEPT BioRobotics Stock Up 14.1%

The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. The stock has a market capitalization of $1.46 billion, a PE ratio of -15.15 and a beta of 1.03. The company has a 50 day moving average price of $30.00 and a 200-day moving average price of $33.44.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). The business had revenue of $76.38 million during the quarter, compared to analysts’ expectations of $93.70 million. PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) EPS. As a group, analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

Several large investors have recently bought and sold shares of PRCT. Caitong International Asset Management Co. Ltd raised its position 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 worth $29,000 after acquiring an additional 746 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in shares of PROCEPT BioRobotics during the third quarter valued at approximately $30,000. Center for Financial Planning Inc. purchased a new stake in PROCEPT BioRobotics in the fourth quarter worth $40,000. Vega Investment Solutions raised its holdings in PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after purchasing an additional 265 shares in the last quarter. Finally, US Bancorp DE lifted its position in PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after buying an additional 1,079 shares during the period. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Company Profile

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.