PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $94.29 Consensus Target Price from Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $94.29.

Several research firms have recently issued reports on PRCT. Truist Financial reaffirmed a “buy” rating and issued a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Finally, Morgan Stanley dropped their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the sale, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Waters sold 733 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock worth $368,322 over the last 90 days. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently made changes to their positions in the business. Lord Abbett & CO. LLC raised its position in shares of PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after buying an additional 233,430 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth $66,972,000. Penserra Capital Management LLC purchased a new stake in shares of PROCEPT BioRobotics in the third quarter worth $2,308,000. Oak Ridge Investments LLC raised its position in shares of PROCEPT BioRobotics by 24.0% in the fourth quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock worth $2,420,000 after buying an additional 5,817 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of PROCEPT BioRobotics by 295.8% in the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company’s stock worth $531,000 after buying an additional 4,931 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $58.10 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The stock has a 50 day moving average price of $67.15 and a two-hundred day moving average price of $78.32. The firm has a market capitalization of $3.18 billion, a P/E ratio of -29.79 and a beta of 1.05. PROCEPT BioRobotics has a 52 week low of $45.56 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. Equities 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).