PROCEPT BioRobotics (NASDAQ:PRCT) Upgraded to Strong-Buy at Evercore

PROCEPT BioRobotics (NASDAQ:PRCT) was upgraded by stock analysts at Evercore to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

PRCT has been the topic of a number of other research reports. TD Cowen decreased their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen raised shares of PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Bank of America downgraded shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $38.00 to $20.00 in a research report on Thursday, February 26th. Robert W. Baird initiated coverage on shares of PROCEPT BioRobotics in a research note on Friday, March 6th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.42.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $20.85 on Wednesday. The company has a market capitalization of $1.19 billion, a PE ratio of -11.46 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The business’s fifty day moving average is $25.46 and its 200 day moving average is $27.76. PROCEPT BioRobotics has a fifty-two week low of $19.35 and a fifty-two week high of $62.17.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The company had revenue of $83.13 million for 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 business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.45) EPS. Sell-side analysts predict that PROCEPT BioRobotics will post -1.53 earnings per share for the current year.

Institutional Trading of PROCEPT BioRobotics

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in PROCEPT BioRobotics by 436.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after acquiring an additional 746 shares in the last quarter. Center for Financial Planning Inc. bought a new stake in PROCEPT BioRobotics during the fourth quarter worth approximately $40,000. US Bancorp DE increased its stake in PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after acquiring an additional 1,079 shares during the last quarter. Cache Advisors LLC purchased a new stake in PROCEPT BioRobotics during the first quarter valued at approximately $42,000. Finally, Lazard Asset Management LLC raised its position in PROCEPT BioRobotics by 90.7% during the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock valued at $98,000 after purchasing an additional 810 shares during the period. 89.46% of the stock is currently owned by institutional investors.

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.