PROCEPT BioRobotics (NASDAQ:PRCT) Price Target Raised to $72.00

PROCEPT BioRobotics (NASDAQ:PRCT) had its price objective hoisted by Truist Financial from $63.00 to $72.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Wells Fargo & Company raised 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $49.50.

PROCEPT BioRobotics Trading Up 4.2 %

PROCEPT BioRobotics stock traded up $2.57 during mid-day trading on Thursday, hitting $64.31. 1,143,117 shares of the company’s stock traded hands, compared to its average volume of 664,889. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $64.89. The firm has a 50 day simple moving average of $50.25 and a two-hundred day simple moving average of $43.72. The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, May 1st. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.04. The company had revenue of $44.50 million for the quarter, compared to the consensus estimate of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 42.13% and a negative net margin of 66.12%. The firm’s revenue for the quarter was up 82.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.63) earnings per share. On average, analysts anticipate that PROCEPT BioRobotics will post -1.96 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 30,432 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $62.97, for a total value of $1,916,303.04. Following the sale, the executive vice president now directly owns 62,472 shares in the company, valued at approximately $3,933,861.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Alaleh Nouri sold 30,432 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total value of $1,916,303.04. Following the completion of the transaction, the executive vice president now directly owns 62,472 shares in the company, valued at approximately $3,933,861.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Waters sold 1,024 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $48.83, for a total value of $50,001.92. Following the sale, the chief financial officer now owns 102,149 shares in the company, valued at approximately $4,987,935.67. The disclosure for this sale can be found here. Insiders have sold a total of 124,581 shares of company stock worth $6,570,023 over the last 90 days. Insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRCT. FMR LLC lifted its holdings in shares of PROCEPT BioRobotics by 13.0% during the third quarter. FMR LLC now owns 7,553,460 shares of the company’s stock worth $247,829,000 after purchasing an additional 870,364 shares during the period. Wellington Management Group LLP bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $26,404,000. Loomis Sayles & Co. L P increased its stake in shares of PROCEPT BioRobotics by 89.8% in the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock valued at $44,144,000 after buying an additional 636,750 shares during the period. Vanguard Group Inc. raised its position in shares of PROCEPT BioRobotics by 10.4% during the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock worth $133,697,000 after acquiring an additional 385,271 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $15,533,000. Institutional investors own 89.46% of the company’s stock.

About PROCEPT BioRobotics

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).