FY2024 Earnings Forecast for PRCT Issued By Leerink Partnrs

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Research analysts at Leerink Partnrs boosted their FY2024 EPS estimates for shares of PROCEPT BioRobotics in a research report issued on Monday, October 28th. Leerink Partnrs analyst M. Kratky now expects that the company will earn ($1.76) per share for the year, up from their previous forecast of ($1.89). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.88) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.35) EPS, Q4 2025 earnings at ($0.21) EPS, FY2025 earnings at ($1.25) EPS and FY2026 earnings at ($0.76) EPS.

A number of other equities research analysts have also recently weighed in on PRCT. Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. TD Cowen increased their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Bank of America lifted their price objective 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. Truist Financial reissued a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $88.40.

PROCEPT BioRobotics Stock Down 3.3 %

Shares of NASDAQ PRCT opened at $90.00 on Thursday. PROCEPT BioRobotics has a 12-month low of $24.91 and a 12-month high of $99.34. The stock’s fifty day simple moving average is $77.20 and its two-hundred day simple moving average is $67.91. The stock has a market capitalization of $4.67 billion, a PE ratio of -46.02 and a beta of 1.03. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company’s quarterly revenue was up 66.4% on a year-over-year basis. During the same period last year, the firm earned ($0.51) earnings per share.

Institutional Trading of PROCEPT BioRobotics

Hedge funds have recently modified their holdings of the stock. Values First Advisors Inc. purchased a new position in PROCEPT BioRobotics during the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $36,000. Quest Partners LLC increased its holdings in shares of PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after purchasing an additional 648 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after purchasing an additional 713 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in PROCEPT BioRobotics during the third quarter worth $120,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Antal Rohit Desai sold 35,220 shares of the stock in a transaction that occurred 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 transaction, the director now owns 23,963 shares in the company, valued at approximately $1,824,063.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 468,353 shares of company stock valued at $40,196,366 in the last three months. 17.40% of the stock is owned by 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).