PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) had its target price hoisted by equities researchers at Truist Financial from $21.00 to $24.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial‘s target price suggests a potential upside of 16.96% from the stock’s previous close.
Several other research analysts have also recently issued reports on PRCT. Piper Sandler raised PROCEPT BioRobotics to a “strong-buy” rating in a report on Friday, October 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Thursday, October 15th. Jefferies Financial Group reiterated a “hold” rating and issued a $20.00 price target on shares of PROCEPT BioRobotics in a research report on Wednesday, August 5th. TD Cowen dropped their price target on PROCEPT BioRobotics from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, UBS Group lifted their target price on shares of PROCEPT BioRobotics from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Hold” and an average target price of $25.25.
Get Our Latest Analysis on PROCEPT BioRobotics
PROCEPT BioRobotics Price Performance
Shares of NASDAQ PRCT traded up $0.25 during midday trading on Friday, reaching $20.52. The company’s stock had a trading volume of 607,777 shares, compared to its average volume of 1,505,450. The company has a current ratio of 6.55, a quick ratio of 5.35 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average price of $19.32 and a 200 day moving average price of $23.18. PROCEPT BioRobotics has a one year low of $16.67 and a one year high of $38.11. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -10.17 and a beta of 0.88.
PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.07). The business had revenue of $98.29 million for the quarter, compared to analyst estimates of $100.52 million. PROCEPT BioRobotics had a negative net margin of 32.60% and a negative return on equity of 32.71%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.38) earnings per share. On average, equities research analysts expect that PROCEPT BioRobotics will post -1.67 EPS for the current year.
Institutional Investors Weigh In On PROCEPT BioRobotics
Institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its holdings in shares of PROCEPT BioRobotics by 71.9% in the 3rd quarter. Fifth Third Bancorp now owns 161,139 shares of the company’s stock valued at $2,936,000 after purchasing an additional 67,420 shares during the period. Fulcrum Asset Management LLP boosted its holdings in shares of PROCEPT BioRobotics by 19,930.2% during the third quarter. Fulcrum Asset Management LLP now owns 21,232 shares of the company’s stock worth $387,000 after purchasing an additional 21,126 shares during the period. Parallel Advisors LLC boosted its holdings in shares of PROCEPT BioRobotics by 51.8% during the third quarter. Parallel Advisors LLC now owns 3,656 shares of the company’s stock worth $67,000 after purchasing an additional 1,247 shares during the period. Inscription Capital LLC boosted its holdings in shares of PROCEPT BioRobotics by 4.1% during the third quarter. Inscription Capital LLC now owns 42,398 shares of the company’s stock worth $772,000 after purchasing an additional 1,662 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in PROCEPT BioRobotics during the third quarter valued at approximately $159,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.
About PROCEPT BioRobotics
PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms. The company’s technology is designed to provide a minimally invasive alternative to conventional surgical procedures.
Its primary product is the AquaBeam Robotic System, which uses image guidance, robotic assistance and a high-velocity waterjet to remove targeted prostate tissue.
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