PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $45.60 Average PT from Brokerages

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $49.50.

A number of equities research analysts have weighed in on the stock. Truist Financial boosted their target price on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price target on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th.

PROCEPT BioRobotics Trading Up 4.2 %

PRCT opened at $64.31 on Friday. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $64.89. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -30.33 and a beta of 0.95. The company’s 50 day moving average price is $50.25 and its two-hundred day moving average price is $43.61.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 42.13%. The firm had revenue of $44.50 million for the quarter, compared to analyst estimates of $41.58 million. During the same period in the previous year, the firm posted ($0.63) EPS. The company’s revenue for the quarter was up 82.4% compared to the same quarter last year. As a group, research analysts predict that PROCEPT BioRobotics will post -2 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 30,432 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the transaction, the executive vice president now owns 62,472 shares in the company, valued at approximately $3,933,861.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Reza Zadno sold 9,179 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total transaction of $428,383.93. Following the transaction, the chief executive officer now owns 246,710 shares in the company, valued at approximately $11,513,955.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alaleh Nouri sold 30,432 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the transaction, the executive vice president now owns 62,472 shares in the company, valued at approximately $3,933,861.84. The disclosure for this sale can be found here. Insiders have sold 124,581 shares of company stock worth $6,570,023 in the last quarter. Company insiders own 19.60% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCT. FMR LLC increased its stake in PROCEPT BioRobotics by 13.0% during the 3rd quarter. FMR LLC now owns 7,553,460 shares of the company’s stock valued at $247,829,000 after purchasing an additional 870,364 shares in the last quarter. Wellington Management Group LLP bought a new stake in PROCEPT BioRobotics during the 3rd quarter valued at $26,404,000. Loomis Sayles & Co. L P increased its stake in PROCEPT BioRobotics by 89.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock valued at $44,144,000 after purchasing an additional 636,750 shares in the last quarter. Vanguard Group Inc. increased its stake in PROCEPT BioRobotics by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock valued at $133,697,000 after purchasing an additional 385,271 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at $15,533,000. Institutional investors own 89.46% of the company’s stock.

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).