FY2028 Earnings Estimate for PRCT Issued By Leerink Partnrs

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Equities research analysts at Leerink Partnrs lifted their FY2028 earnings per share estimates for shares of PROCEPT BioRobotics in a report released on Monday, October 28th. Leerink Partnrs analyst M. Kratky now anticipates that the company will earn $0.12 per share for the year, up from their prior forecast of $0.10. The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.88) per share.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The company’s revenue for the quarter was up 66.4% compared to the same quarter last year.

A number of other research firms have also recently weighed in on PRCT. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday. TD Cowen lifted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Bank of America increased their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Five investment 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 an average target price of $88.40.

PROCEPT BioRobotics Trading Down 3.8 %

PROCEPT BioRobotics stock opened at $93.03 on Wednesday. The firm has a 50-day moving average price of $77.01 and a two-hundred day moving average price of $67.73. PROCEPT BioRobotics has a 52-week low of $24.91 and a 52-week high of $99.34. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -45.16 and a beta of 1.03. The company has a quick ratio of 6.49, a current ratio of 7.51 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of PROCEPT BioRobotics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock valued at $175,376,000 after purchasing an additional 109,694 shares during the period. M&G Plc acquired a new position in shares of PROCEPT BioRobotics in the second quarter worth about $8,507,000. Federated Hermes Inc. increased its position in shares of PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after acquiring an additional 162,785 shares in the last quarter. Nicholas Investment Partners LP acquired a new stake in shares of PROCEPT BioRobotics during the second quarter valued at approximately $4,657,000. Finally, ProShare Advisors LLC lifted its position in shares of PROCEPT BioRobotics by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock valued at $358,000 after acquiring an additional 570 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Antal Rohit Desai sold 35,220 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the completion of the sale, the director now owns 23,963 shares in the company, valued at $1,824,063.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Kevin Waters sold 25,000 shares of the firm’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 approximately $6,964,077.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Antal Rohit Desai sold 35,220 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the completion of the transaction, the director now directly owns 23,963 shares in the company, valued at $1,824,063.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,892 shares of company stock worth $13,946,415. 17.40% of the stock is owned by company 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).