PROCEPT BioRobotics’ (PRCT) Buy Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research note published on Friday, Benzinga reports. Truist Financial currently has a $74.00 price target on the stock, down from their previous price target of $79.00.

A number of other research analysts have also recently issued reports on the stock. TD Cowen lifted their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a buy rating in a research note on Monday, May 6th. Piper Sandler boosted their target price on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an overweight rating in a report on Monday, May 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of Buy and an average price target of $66.00.

PROCEPT BioRobotics Trading Down 1.9 %

Shares of NASDAQ:PRCT opened at $56.31 on Friday. PROCEPT BioRobotics has a 52-week low of $24.83 and a 52-week high of $77.00. The company has a market capitalization of $2.90 billion, a P/E ratio of -26.89 and a beta of 1.00. The company has a 50-day simple moving average of $64.51 and a 200 day simple moving average of $56.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.44 and a current ratio of 8.52.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.02. The business had revenue of $53.35 million during the quarter, compared to the consensus estimate of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 36.86%. PROCEPT BioRobotics’s revenue was up 61.2% on a year-over-year basis. During the same period last year, the business posted ($0.56) EPS. Sell-side analysts forecast that PROCEPT BioRobotics will post -1.93 earnings per share for the current year.

Insider Transactions at PROCEPT BioRobotics

In other news, EVP Hisham Shiblaq sold 26,046 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $68.24, for a total value of $1,777,379.04. Following the transaction, the executive vice president now owns 55,860 shares of the company’s stock, valued at approximately $3,811,886.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Hisham Shiblaq sold 26,046 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $68.24, for a total transaction of $1,777,379.04. Following the transaction, the executive vice president now owns 55,860 shares of the company’s stock, valued at approximately $3,811,886.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alaleh Nouri sold 10,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $62.18, for a total transaction of $621,800.00. Following the completion of the sale, the executive vice president now directly owns 52,472 shares in the company, valued at approximately $3,262,708.96. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in PROCEPT BioRobotics by 5.8% during the fourth quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock valued at $243,000 after purchasing an additional 316 shares in the last quarter. Essex Investment Management Co. LLC lifted its holdings in PROCEPT BioRobotics by 0.6% during the first quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock valued at $2,971,000 after purchasing an additional 336 shares in the last quarter. Arizona State Retirement System lifted its holdings in PROCEPT BioRobotics by 2.8% during the second quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after purchasing an additional 350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PROCEPT BioRobotics by 4.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock valued at $606,000 after purchasing an additional 408 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in PROCEPT BioRobotics by 5.7% during the fourth quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock valued at $444,000 after purchasing an additional 568 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Company Profile

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).