PROCEPT BioRobotics Corporation (NASDAQ:PRCT – Get Free Report) has been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $41.4545.
Several equities research analysts recently weighed in on PRCT shares. Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Robert W. Baird started coverage on shares of PROCEPT BioRobotics in a research note on Friday, March 6th. They set a “neutral” rating and a $30.00 price objective on the stock. TD Cowen decreased their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Wells Fargo & Company decreased their target price on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, Bank of America cut shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $38.00 to $20.00 in a research report on Thursday, February 26th.
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PROCEPT BioRobotics Price Performance
PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The business had revenue of $83.13 million for the quarter, compared to analyst estimates of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.PROCEPT BioRobotics’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.45) EPS. As a group, sell-side analysts expect that PROCEPT BioRobotics will post -1.53 earnings per share for the current year.
Insider Activity
In other news, EVP Alaleh Nouri sold 6,892 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $163,340.40. Following the completion of the transaction, the executive vice president directly owned 114,264 shares in the company, valued at $2,708,056.80. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin Waters sold 6,721 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $159,287.70. Following the completion of the transaction, the executive vice president owned 152,264 shares of the company’s stock, valued at $3,608,656.80. This trade represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. Insiders own 6.60% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in shares of PROCEPT BioRobotics by 436.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock valued at $29,000 after acquiring an additional 746 shares in the last quarter. Center for Financial Planning Inc. bought a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $40,000. Cache Advisors LLC bought a new position in shares of PROCEPT BioRobotics in the first quarter valued at approximately $42,000. Essential Partners LLC boosted its holdings in PROCEPT BioRobotics by 7,071.4% during the first quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after buying an additional 1,980 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after buying an additional 1,079 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.
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.
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