PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Consensus Recommendation of “Buy” from Brokerages

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has received a consensus rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $78.17.

PRCT has been the topic of several recent research reports. Bank of America upped their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Truist Financial upped their price target on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. TD Cowen lifted their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company upped their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the transaction, the director now owns 317,518 shares in the company, valued at $24,248,849.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the transaction, the director now owns 317,518 shares in the company, valued at $24,248,849.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. The disclosure for this sale can be found here. Insiders sold a total of 154,892 shares of company stock worth $12,134,665 over the last three months. 17.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC grew its stake in PROCEPT BioRobotics by 0.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock worth $2,971,000 after acquiring an additional 336 shares in the last quarter. Arizona State Retirement System grew its stake in PROCEPT BioRobotics by 2.8% in the second quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock worth $784,000 after purchasing an additional 350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after purchasing an additional 408 shares during the period. Principal Financial Group Inc. raised its position in PROCEPT BioRobotics by 5.7% during the 4th 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. Finally, ProShare Advisors LLC raised its position in PROCEPT BioRobotics by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock valued at $358,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Performance

PRCT opened at $80.12 on Tuesday. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of -37.79 and a beta of 1.03. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $85.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The company has a fifty day moving average of $72.35 and a 200 day moving average of $63.84.

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, topping the consensus estimate of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm had revenue of $53.35 million for the quarter, compared to analysts’ expectations of $50.10 million. During the same period in the previous year, the firm posted ($0.56) earnings per share. The business’s revenue was up 61.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PROCEPT BioRobotics will post -1.88 earnings per share for the current fiscal year.

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).