PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives $40.82 Consensus Target Price from Analysts

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been given an average recommendation of “Hold” by the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $40.8182.

A number of research firms have recently commented on PRCT. Leerink Partners cut their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Thursday, January 22nd. Oppenheimer restated a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. UBS Group began coverage on shares of PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 price target on the stock. Finally, Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Kevin Waters sold 6,721 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $159,287.70. Following the completion of the sale, the executive vice president owned 152,264 shares in the company, valued at $3,608,656.80. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Antal Rohit Desai purchased 167,246 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were bought at an average cost of $25.58 per share, with a total value of $4,278,152.68. Following the transaction, the director directly owned 167,246 shares of the company’s stock, valued at approximately $4,278,152.68. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently modified their holdings of PRCT. AQR Capital Management LLC grew its stake in PROCEPT BioRobotics by 7.3% in the first quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock worth $1,101,000 after purchasing an additional 1,286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in PROCEPT BioRobotics by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after buying an additional 13,767 shares in the last quarter. Intech Investment Management LLC raised its stake in PROCEPT BioRobotics by 54.4% during the first quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock valued at $1,654,000 after buying an additional 10,002 shares in the last quarter. Legal & General Group Plc lifted its holdings in PROCEPT BioRobotics by 11.0% during the 2nd quarter. Legal & General Group Plc now owns 57,919 shares of the company’s stock worth $3,336,000 after buying an additional 5,752 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in PROCEPT BioRobotics by 20.2% during the 2nd quarter. Rhumbline Advisers now owns 77,384 shares of the company’s stock worth $4,457,000 after buying an additional 13,011 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $25.12 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The business’s fifty day moving average price is $26.95 and its two-hundred day moving average price is $31.09. The stock has a market cap of $1.42 billion, a PE ratio of -14.69 and a beta of 0.94. PROCEPT BioRobotics has a one year low of $19.35 and a one year high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The firm had revenue of $76.38 million during the quarter, compared to analysts’ expectations of $93.70 million. During the same quarter last year, the company posted ($0.35) earnings per share. PROCEPT BioRobotics’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.