BTIG Research Reaffirms "Neutral" Rating for PROCEPT BioRobotics (NASDAQ:PRCT)

Key Points

• BTIG Research has reaffirmed a "Neutral" rating for PROCEPT BioRobotics (NASDAQ:PRCT) in a recent research note to investors.
• The stock has an average rating of "Moderate Buy" with a consensus target price of $70.00, according to data from MarketBeat.
• PROCEPT BioRobotics reported a quarterly revenue of $79.18 million, surpassing analysts' expectations and showing a 48.3% increase compared to the same quarter last year.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at BTIG Research in a research note issued to investors on Tuesday,Benzinga reports.

PRCT has been the topic of several other research reports. Stephens assumed coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price target on the stock. Oppenheimer raised PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a research report on Tuesday, September 2nd. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley decreased their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Finally, Wells Fargo & Company reduced their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.00.

PROCEPT BioRobotics Trading Up 2.3%

NASDAQ PRCT opened at $38.00 on Tuesday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -24.52 and a beta of 1.03. The stock's 50 day moving average price is $46.39 and its two-hundred day moving average price is $53.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21. PROCEPT BioRobotics has a 52 week low of $36.90 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. The firm had revenue of $79.18 million for the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business's quarterly revenue was up 48.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.50) EPS. As a group, analysts anticipate that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC grew its stake in PROCEPT BioRobotics by 1.3% in the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company's stock valued at $1,158,000 after acquiring an additional 250 shares during the period. Vega Investment Solutions raised 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 valued at $45,000 after buying an additional 265 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of PROCEPT BioRobotics by 32.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock valued at $64,000 after buying an additional 270 shares during the period. RiverPark Advisors LLC raised its stake in shares of PROCEPT BioRobotics by 22.5% during the 2nd quarter. RiverPark Advisors LLC now owns 1,761 shares of the company's stock valued at $101,000 after purchasing an additional 324 shares during the period. Finally, Osaic Holdings Inc. raised its stake in shares of PROCEPT BioRobotics by 20.3% during the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock valued at $115,000 after purchasing an additional 337 shares during the period. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Company Profile

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).

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