Brokerages Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Price Target at $97.86

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $97.86.

Several equities analysts have recently commented on the company. Wells Fargo & Company restated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 price objective for the company.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the transaction, the chief executive officer now owns 205,605 shares in the company, valued at approximately $19,032,854.85. This represents a 11.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Antal Rohit Desai sold 34,000 shares of PROCEPT BioRobotics stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the sale, the director now owns 164,363 shares of the company’s stock, valued at $15,678,586.57. The trade was a 17.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,355 shares of company stock worth $16,758,848 in the last ninety days. 17.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRCT. Values First Advisors Inc. purchased a new position in PROCEPT BioRobotics during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at $64,000. Canton Hathaway LLC purchased a new stake in PROCEPT BioRobotics during the third quarter worth $66,000. Finally, Nisa Investment Advisors LLC grew its position in PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after buying an additional 713 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Trading Down 1.9 %

Shares of PRCT opened at $71.57 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The firm has a market cap of $3.73 billion, a P/E ratio of -36.70 and a beta of 1.05. The company has a 50 day simple moving average of $84.87 and a two-hundred day simple moving average of $79.30. PROCEPT BioRobotics has a 1 year low of $45.20 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 66.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) earnings per share. On average, equities analysts expect that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

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).