Equities Analysts Offer Predictions for PRCT FY2024 Earnings

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Equities research analysts at Leerink Partnrs boosted their FY2024 EPS estimates for shares of PROCEPT BioRobotics in a research report issued to clients and investors on Monday, November 25th. Leerink Partnrs analyst M. Kratky now expects that the company will post earnings of ($1.74) per share for the year, up from their prior estimate of ($1.76). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.74) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.33) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.27) EPS, Q4 2025 earnings at ($0.17) EPS, FY2025 earnings at ($1.06) EPS, FY2026 earnings at ($0.59) EPS and FY2027 earnings at ($0.30) EPS.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. The company had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm’s quarterly revenue was up 66.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share.

Several other equities research analysts have also issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Truist Financial restated a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, TD Cowen lifted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.50.

PROCEPT BioRobotics Trading Down 2.0 %

Shares of PROCEPT BioRobotics stock opened at $97.29 on Wednesday. The company’s 50-day moving average price is $83.12 and its 200-day moving average price is $73.12. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a 12-month low of $33.45 and a 12-month high of $103.81. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -50.08 and a beta of 1.01.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after acquiring an additional 62,164 shares in the last quarter. State Street Corp grew its position in PROCEPT BioRobotics by 5.9% during the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after purchasing an additional 66,175 shares during the last quarter. Geode Capital Management LLC raised its holdings in PROCEPT BioRobotics by 8.2% in the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock worth $88,678,000 after buying an additional 84,244 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in PROCEPT BioRobotics in the third quarter worth about $72,563,000. Finally, Franklin Resources Inc. lifted its position in PROCEPT BioRobotics by 64.5% in the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after acquiring an additional 347,330 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 35,220 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the completion of the sale, the director now owns 23,963 shares of the company’s stock, valued at approximately $1,824,063.56. This represents a 59.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. This represents a 52.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,773 shares of company stock worth $49,073,125 in the last ninety days. 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).