PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $97.86.

A number of equities research analysts have issued reports on the stock. TD Cowen increased 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. Piper Sandler reissued an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company restated an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $6,964,077.12. This represents a 20.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. The trade was a 52.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 487,816 shares of company stock valued at $44,820,549 in the last 90 days. 17.40% of the stock is owned by corporate insiders.

Institutional Trading of PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in PROCEPT BioRobotics in the second quarter valued at approximately $36,000. Quest Partners LLC increased its position in PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after purchasing an additional 648 shares during the period. Wilmington Savings Fund Society FSB bought a new position in PROCEPT BioRobotics during the 3rd quarter worth approximately $64,000. Finally, Canton Hathaway LLC acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $66,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT opened at $87.54 on Friday. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a 12-month low of $41.04 and a 12-month high of $103.81. The company’s 50 day moving average price is $90.59 and its two-hundred day moving average price is $77.88. The firm has a market cap of $4.57 billion, a PE ratio of -44.89 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company’s revenue was up 66.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.51) EPS. Equities research analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current 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).