PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $97.86 Average PT from Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $97.86.

PRCT has been the subject of a number of recent research reports. TD Cowen upped their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target for the company. 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 research note on Wednesday, October 30th. Finally, Morgan Stanley started coverage on shares of PROCEPT BioRobotics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price objective on the stock.

Insider Buying and Selling

In related news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction 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 of the company’s stock, valued at approximately $6,964,077.12. This trade represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 487,816 shares of company stock valued at $44,820,549 over the last quarter. Insiders own 17.40% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Several large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PROCEPT BioRobotics by 4.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after acquiring an additional 408 shares in the last quarter. Rhumbline Advisers grew its position in PROCEPT BioRobotics by 10.3% in the 2nd quarter. Rhumbline Advisers now owns 61,872 shares of the company’s stock valued at $3,780,000 after purchasing an additional 5,793 shares during the period. Arizona State Retirement System grew its position in PROCEPT BioRobotics by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after purchasing an additional 350 shares during the period. Chicago Capital LLC bought a new stake in PROCEPT BioRobotics during the 2nd quarter valued at $14,233,000. Finally, Quest Partners LLC raised its holdings in PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Up 1.4 %

Shares of NASDAQ PRCT opened at $84.30 on Friday. The stock has a 50-day moving average price of $90.82 and a two-hundred day moving average price of $77.37. PROCEPT BioRobotics has a 12 month low of $39.48 and a 12 month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -43.23 and a beta of 0.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm’s revenue was up 66.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) EPS. As a group, analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

PROCEPT BioRobotics Company Profile

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).