PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Stock Now Rated “Hold” by Wall Street Analysts

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have received a consensus rating of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.09.

A number of research analysts have recently commented on PRCT shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $20.00 target price on shares of PROCEPT BioRobotics in a research note on Wednesday, August 5th. Piper Sandler decreased their price target on shares of PROCEPT BioRobotics from $35.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. UBS Group cut PROCEPT BioRobotics from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, July 28th. Evercore set a $23.00 price objective on PROCEPT BioRobotics in a report on Wednesday, August 5th. Finally, Robert W. Baird set a $20.00 target price on PROCEPT BioRobotics in a research report on Wednesday, August 5th.

PROCEPT BioRobotics Stock Down 3.3%

NASDAQ PRCT opened at $17.50 on Friday. The company has a quick ratio of 5.35, a current ratio of 6.55 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics has a 52 week low of $16.67 and a 52 week high of $38.11. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -9.02 and a beta of 0.91. The company has a fifty day moving average of $20.03 and a two-hundred day moving average of $23.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Tuesday, August 4th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). PROCEPT BioRobotics had a negative net margin of 32.53% and a negative return on equity of 30.62%. The firm had revenue of $94.50 million during the quarter, compared to analysts’ expectations of $92.77 million. During the same period in the prior year, the company posted ($0.35) EPS. The company’s revenue was up 19.3% compared to the same quarter last year. On average, analysts predict that PROCEPT BioRobotics will post -1.67 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, CEO Larry Wood acquired 23,900 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $20.85 per share, for a total transaction of $498,315.00. Following the completion of the acquisition, the chief executive officer directly owned 23,900 shares of the company’s stock, valued at $498,315. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 1,043 shares of company stock worth $21,851 in the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its holdings in shares of PROCEPT BioRobotics by 994.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock valued at $27,000 after purchasing an additional 1,084 shares in the last quarter. Nykredit A S purchased a new position in PROCEPT BioRobotics during the second quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd increased its holdings in PROCEPT BioRobotics by 570.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,146 shares of the company’s stock valued at $36,000 after buying an additional 975 shares during the period. Cache Advisors LLC purchased a new position in PROCEPT BioRobotics during the first quarter valued at approximately $42,000. Finally, Essential Partners LLC raised its stake in PROCEPT BioRobotics by 7,071.4% in the first quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after buying an additional 1,980 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for urologic care. The company’s primary focus is the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms.

Its flagship product is the AQUABEAM Robotic System, which uses image guidance, robotics, and high-velocity waterjet technology to remove targeted prostate tissue without the use of a traditional cutting instrument.