Leerink Partnrs Issues Optimistic Outlook for PRCT Earnings

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Stock analysts at Leerink Partnrs upped their Q3 2024 earnings per share (EPS) estimates for PROCEPT BioRobotics in a report released on Tuesday, October 15th. Leerink Partnrs analyst M. Kratky now expects that the company will post earnings of ($0.48) per share for the quarter, up from their prior forecast of ($0.49). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.88) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ FY2024 earnings at ($1.89) EPS, FY2025 earnings at ($1.42) EPS, FY2026 earnings at ($0.80) EPS and FY2028 earnings at $0.10 EPS.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. The company had revenue of $53.35 million for the quarter, compared to analyst estimates of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The firm’s quarterly revenue was up 61.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.56) EPS.

A number of other equities research analysts also recently commented on PRCT. Truist Financial lifted their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. TD Cowen upped their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Buy” and a consensus target price of $86.40.

PROCEPT BioRobotics Trading Down 0.2 %

Shares of PRCT opened at $68.95 on Friday. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $85.81. The company has a market capitalization of $3.58 billion, a PE ratio of -33.47 and a beta of 1.03. The stock has a fifty day moving average of $75.48 and a two-hundred day moving average of $66.21. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC acquired a new position in shares of PROCEPT BioRobotics in the 2nd quarter worth approximately $36,000. Quest Partners LLC boosted its holdings in PROCEPT BioRobotics by 2,492.3% in the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after purchasing an additional 648 shares during the period. Canada Pension Plan Investment Board bought a new stake in PROCEPT BioRobotics during the second quarter valued at $128,000. RiverPark Advisors LLC acquired a new stake in shares of PROCEPT BioRobotics during the second quarter worth $135,000. Finally, nVerses Capital LLC lifted its position in shares of PROCEPT BioRobotics by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $147,000 after buying an additional 1,800 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $6,964,077.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Antal Rohit Desai sold 44,867 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the sale, the director now directly owns 197,453 shares of the company’s stock, valued at approximately $15,817,959.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,892 shares of company stock valued at $13,946,415. 17.40% of the stock is currently owned by corporate insiders.

About PROCEPT BioRobotics

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).