Wall Street Zen Upgrades PROCEPT BioRobotics (NASDAQ:PRCT) to “Hold”

PROCEPT BioRobotics (NASDAQ:PRCT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also weighed in on PRCT. Bank of America reiterated a “neutral” rating and issued a $38.00 price objective (down previously from $55.00) on shares of PROCEPT BioRobotics in a research note on Monday, December 8th. Truist Financial lowered their price target on shares of PROCEPT BioRobotics from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. UBS Group began coverage on PROCEPT BioRobotics in a report on Friday, December 12th. They set a “buy” rating and a $62.00 price objective for the company. Jefferies Financial Group raised PROCEPT BioRobotics from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $55.00 target price on shares of PROCEPT BioRobotics in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.40.

PROCEPT BioRobotics Stock Down 4.8%

NASDAQ:PRCT opened at $32.83 on Friday. The business’s fifty day moving average price is $32.43 and its 200 day moving average price is $39.54. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -21.46 and a beta of 0.99. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14. PROCEPT BioRobotics has a 1-year low of $27.80 and a 1-year high of $87.45.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. The firm had revenue of $83.33 million during the quarter, compared to analyst estimates of $80.78 million. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The business’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period last year, the company posted ($0.40) EPS. On average, sell-side analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

Several large investors have recently made changes to their positions in the stock. Vega Investment Solutions grew its stake in shares of PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after acquiring an additional 265 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in PROCEPT BioRobotics in the 3rd quarter valued at $30,000. AlphaQuest LLC grew its position in PROCEPT BioRobotics by 1,262.5% in the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after purchasing an additional 1,010 shares during the last quarter. CWM LLC increased its holdings in shares of PROCEPT BioRobotics by 40.7% during the 2nd quarter. CWM LLC now owns 1,228 shares of the company’s stock worth $71,000 after purchasing an additional 355 shares during the period. Finally, US Bancorp DE raised its position in shares of PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after buying an additional 1,079 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.