PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) had its price objective increased by Leerink Partners from $20.00 to $22.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Leerink Partners‘s price target would suggest a potential upside of 6.69% from the company’s current price.
Several other analysts have also recently weighed in on the company. TD Cowen dropped their price objective on PROCEPT BioRobotics from $34.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Barclays initiated coverage on shares of PROCEPT BioRobotics in a research note on Tuesday, October 6th. They issued an “overweight” rating and a $30.00 target price on the stock. UBS Group cut shares of PROCEPT BioRobotics from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a research report on Tuesday, July 28th. Oppenheimer reissued a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Wednesday, September 9th. Finally, Evercore set a $23.00 price objective on shares of PROCEPT BioRobotics in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.25.
View Our Latest Report on PROCEPT BioRobotics
PROCEPT BioRobotics Trading Up 1.7%
PRCT stock traded up $0.35 during trading on Thursday, hitting $20.62. The company had a trading volume of 1,850,317 shares, compared to its average volume of 1,113,616. The company has a quick ratio of 5.35, a current ratio of 6.55 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $19.32 and a 200-day moving average price of $23.13. PROCEPT BioRobotics has a 12 month low of $16.67 and a 12 month high of $38.11. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -10.21 and a beta of 0.88.
PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). The firm had revenue of $98.29 million during the quarter, compared to the consensus estimate of $100.52 million. PROCEPT BioRobotics had a negative net margin of 32.53% and a negative return on equity of 30.62%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.38) earnings per share. As a group, analysts predict that PROCEPT BioRobotics will post -1.67 earnings per share for the current year.
Insiders Place Their Bets
In other PROCEPT BioRobotics news, insider Pooja Sharma sold 4,710 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $19.71, for a total transaction of $92,834.10. Following the transaction, the insider owned 106,471 shares in the company, valued at approximately $2,098,543.41. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,753 shares of company stock valued at $114,685 over the last quarter. Corporate insiders own 4.00% of the company’s stock.
Institutional Trading of PROCEPT BioRobotics
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc raised its position in shares of PROCEPT BioRobotics by 994.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock valued at $27,000 after acquiring an additional 1,084 shares during the period. Nykredit A S bought a new stake in PROCEPT BioRobotics in the second quarter valued at approximately $27,000. Sterling Capital Management LLC increased its stake in PROCEPT BioRobotics by 849.2% in the third quarter. Sterling Capital Management LLC now owns 1,870 shares of the company’s stock valued at $34,000 after purchasing an additional 1,673 shares in the last quarter. Signaturefd LLC increased its stake in PROCEPT BioRobotics by 162.7% in the third quarter. Signaturefd LLC now owns 1,899 shares of the company’s stock valued at $35,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Essential Partners LLC raised its holdings in PROCEPT BioRobotics by 7,071.4% in the first quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after purchasing an additional 1,980 shares during the period. 89.46% of the stock is owned by institutional investors.
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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