Brokerages Set PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Target Price at $41.36

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $41.3636.

Several research firms recently commented on PRCT. Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. Wall Street Zen raised shares of PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Wells Fargo & Company cut their price target on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group cut shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its position in PROCEPT BioRobotics by 1.3% during the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock worth $1,158,000 after buying an additional 250 shares in the last quarter. Osaic Holdings Inc. lifted its position in PROCEPT BioRobotics by 20.3% during the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock worth $115,000 after buying an additional 337 shares in the last quarter. ProShare Advisors LLC lifted its position in PROCEPT BioRobotics by 4.7% during the 4th quarter. ProShare Advisors LLC now owns 9,726 shares of the company’s stock worth $306,000 after buying an additional 438 shares in the last quarter. California State Teachers Retirement System lifted its position in PROCEPT BioRobotics by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 49,446 shares of the company’s stock worth $2,848,000 after buying an additional 693 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in PROCEPT BioRobotics by 436.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after buying an additional 746 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Trading Up 3.9%

PRCT opened at $21.72 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of -11.93 and a beta of 0.85. PROCEPT BioRobotics has a 12 month low of $19.35 and a 12 month high of $62.17. The firm’s fifty day simple moving average is $25.65 and its 200 day simple moving average is $28.07. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The company had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.45) earnings per share. As a group, research analysts anticipate that PROCEPT BioRobotics will post -1.53 EPS for the current fiscal year.

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.