PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 6.6% – Still a Buy?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT)’s stock price was up 6.6% during mid-day trading on Friday . The company traded as high as $26.56 and last traded at $26.7220. Approximately 592,017 shares were traded during trading, a decline of 63% from the average daily volume of 1,608,519 shares. The stock had previously closed at $25.07.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PRCT shares. Morgan Stanley reduced their price objective on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Truist Financial reduced 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 note on Friday, February 27th. Wall Street Zen cut shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. UBS Group started coverage on shares of PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 price objective on the stock. Finally, Piper Sandler dropped their target price on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.82.

PROCEPT BioRobotics Stock Performance

The business’s fifty day moving average is $27.53 and its 200-day moving average is $31.68. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.51 billion, a PE ratio of -15.62 and a beta of 1.02.

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

Insider Activity

In related news, Director Antal Rohit Desai acquired 167,246 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of $25.58 per share, for a total transaction of $4,278,152.68. Following the purchase, the director owned 167,246 shares in the company, valued at $4,278,152.68. The trade was a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alaleh Nouri sold 6,892 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $163,340.40. Following the completion of the sale, the executive vice president directly owned 114,264 shares of the company’s stock, valued at $2,708,056.80. This represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have purchased 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its position in shares of PROCEPT BioRobotics by 2,727.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 228,186 shares of the company’s stock valued at $7,179,000 after acquiring an additional 220,115 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in PROCEPT BioRobotics by 570.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,146 shares of the company’s stock valued at $36,000 after buying an additional 975 shares in the last quarter. Virtu Financial LLC purchased a new stake in PROCEPT BioRobotics during the 4th quarter valued at approximately $469,000. T. Rowe Price Investment Management Inc. raised its position in shares of PROCEPT BioRobotics by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company’s stock valued at $102,919,000 after buying an additional 1,218,815 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of PROCEPT BioRobotics by 19.8% in the fourth quarter. Invesco Ltd. now owns 43,570 shares of the company’s stock worth $1,371,000 after buying an additional 7,191 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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.