PROCEPT BioRobotics Corporation (NASDAQ:PRCT – Get Free Report) traded down 5.8% during mid-day trading on Wednesday . The stock traded as low as $20.81 and last traded at $20.8280. 1,302,368 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 1,551,315 shares. The stock had previously closed at $22.10.
Analyst Ratings Changes
A number of research analysts have recently commented on PRCT shares. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Truist Financial reduced their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Wells Fargo & Company decreased their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Finally, Bank of America lowered 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 note on Thursday, February 26th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.36.
View Our Latest Stock Analysis on PROCEPT BioRobotics
PROCEPT BioRobotics Trading Down 5.4%
PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. During the same period in the previous year, the company earned ($0.45) EPS. PROCEPT BioRobotics’s quarterly revenue was up 20.1% on a year-over-year basis. On average, sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current fiscal year.
Insider Buying and Selling
In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,363 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $25.96, for a total transaction of $139,223.48. Following the sale, the executive vice president owned 105,354 shares in the company, valued at $2,734,989.84. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 6,363 shares of company stock valued at $167,703 over the last quarter. 17.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On PROCEPT BioRobotics
Institutional investors have recently modified their holdings of the company. DNB Asset Management AS bought a new stake in PROCEPT BioRobotics in the 3rd quarter worth approximately $1,132,000. SG Americas Securities LLC grew its position in PROCEPT BioRobotics by 142.0% during the fourth quarter. SG Americas Securities LLC now owns 84,294 shares of the company’s stock valued at $2,652,000 after acquiring an additional 49,457 shares during the last quarter. Baillie Gifford & Co. grew its position in PROCEPT BioRobotics by 18.3% during the fourth quarter. Baillie Gifford & Co. now owns 1,015,978 shares of the company’s stock valued at $31,963,000 after acquiring an additional 157,147 shares during the last quarter. Prosight Management LP purchased a new position in shares of PROCEPT BioRobotics during the third quarter worth approximately $2,748,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter worth approximately $1,864,000. 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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