Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT – Get Free Report) have been given a consensus rating of “Hold” by the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $25.50.
A number of analysts have recently issued reports on PRCT shares. Wells Fargo & Company lowered PROCEPT BioRobotics from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a research report on Wednesday, August 5th. TD Cowen dropped their price objective on shares of PROCEPT BioRobotics from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Piper Sandler upgraded PROCEPT BioRobotics to a “strong-buy” rating in a research report on Friday, October 16th. Citigroup cut shares of PROCEPT BioRobotics to a “hold” rating in a report on Thursday, July 2nd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a report on Wednesday, September 9th.
View Our Latest Research Report on PROCEPT BioRobotics
Insider Activity
In other news, CEO Larry Wood acquired 23,900 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $20.85 per share, for a total transaction of $498,315.00. Following the completion of the acquisition, the chief executive officer directly owned 23,900 shares in the company, valued at $498,315. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders sold 1,043 shares of company stock worth $21,851. 4.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its position in PROCEPT BioRobotics by 70.3% during the third quarter. Versant Capital Management Inc now owns 2,032 shares of the company’s stock valued at $37,000 after buying an additional 839 shares during the period. IFP Advisors Inc grew its stake in PROCEPT BioRobotics by 11.9% in the second quarter. IFP Advisors Inc now owns 12,062 shares of the company’s stock valued at $272,000 after purchasing an additional 1,287 shares in the last quarter. Squarepoint Ops LLC acquired a new position in PROCEPT BioRobotics in the 2nd quarter worth about $597,000. Nykredit A S acquired a new position in PROCEPT BioRobotics in the second quarter worth approximately $27,000. Finally, VELA Investment Management LLC raised its holdings in shares of PROCEPT BioRobotics by 62.0% during the 2nd quarter. VELA Investment Management LLC now owns 113,722 shares of the company’s stock valued at $2,568,000 after purchasing an additional 43,513 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.
PROCEPT BioRobotics Trading Down 2.9%
Shares of PRCT opened at $18.27 on Thursday. The company has a market capitalization of $1.05 billion, a PE ratio of -9.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.35 and a current ratio of 6.55. PROCEPT BioRobotics has a fifty-two week low of $16.67 and a fifty-two week high of $38.11. The stock has a fifty day moving average of $19.64 and a two-hundred day moving average of $21.96.
PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.01). PROCEPT BioRobotics had a negative net margin of 32.53% and a negative return on equity of 30.62%. The company had revenue of $94.50 million for the quarter, compared to analysts’ expectations of $92.77 million. During the same period in the prior year, the firm earned ($0.35) earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, analysts forecast that PROCEPT BioRobotics will post -1.67 EPS for the current year.
PROCEPT BioRobotics Company Profile
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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