PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $90.00 Average Price Target from Brokerages

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $90.00.

A number of equities analysts recently commented on PRCT shares. Bank of America decreased their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Morgan Stanley decreased their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial dropped their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a report on Friday, April 11th.

Insider Activity at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. This trade represents a 3.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock worth $368,322 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently modified their holdings of PRCT. ANTIPODES PARTNERS Ltd purchased a new position in PROCEPT BioRobotics during the 1st quarter valued at about $30,000. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PROCEPT BioRobotics in the 1st quarter worth approximately $40,000. Thematics Asset Management purchased a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $46,000. Finally, CWM LLC grew its stake in shares of PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company’s stock worth $51,000 after buying an additional 358 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Up 3.3%

Shares of PROCEPT BioRobotics stock opened at $54.77 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics has a 1 year low of $47.04 and a 1 year high of $103.81. The firm has a market cap of $3.03 billion, a PE ratio of -28.09 and a beta of 1.10. The company has a 50 day simple moving average of $55.24 and a two-hundred day simple moving average of $72.54.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.04. The company had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 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 55.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share. 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).