FY2029 Earnings Forecast for PRCT Issued By Leerink Partnrs

Key Points

• Leerink Partners has raised its FY2029 earnings per share estimate for PROCEPT BioRobotics to $0.26, up from $0.23, while the consensus for the current year remains at a loss of ($1.75) per share.
• Research analysts have varied opinions on PRCT, with seven having a Buy rating, leading to a consensus target price of $70.00 for the stock.
• Shares of PROCEPT BioRobotics are currently trading at $33.92, with a market capitalization of $1.89 billion, indicating significant volatility with a 52-week low of $32.11 and a high of $103.81.

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) - Analysts at Leerink Partnrs increased their FY2029 earnings per share estimates for PROCEPT BioRobotics in a research note issued on Tuesday, October 14th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings of $0.26 per share for the year, up from their prior estimate of $0.23. The consensus estimate for PROCEPT BioRobotics' current full-year earnings is ($1.75) per share.

PRCT has been the topic of several other research reports. Stephens initiated coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price objective on the stock. Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price objective on the stock in a research note on Tuesday, September 2nd. Wells Fargo & Company dropped their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. BTIG Research reissued a "neutral" rating on shares of PROCEPT BioRobotics in a report on Tuesday, September 16th. Finally, Piper Sandler cut their price target on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.00.

PROCEPT BioRobotics Trading Up 2.8%

Shares of NASDAQ PRCT opened at $33.92 on Wednesday. The stock's 50 day moving average price is $38.18 and its two-hundred day moving average price is $50.04. PROCEPT BioRobotics has a 52-week low of $32.11 and a 52-week high of $103.81. The stock has a market capitalization of $1.89 billion, a P/E ratio of -21.88 and a beta of 0.99. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. The company had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The company's revenue was up 48.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.50) earnings per share.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently modified their holdings of the company. Advisory Services Network LLC increased its position in shares of PROCEPT BioRobotics by 1.3% during the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company's stock valued at $1,158,000 after purchasing an additional 250 shares during the period. Vega Investment Solutions increased its position in shares of PROCEPT BioRobotics by 52.0% during the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company's stock valued at $45,000 after purchasing an additional 265 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of PROCEPT BioRobotics by 32.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after acquiring an additional 270 shares in the last quarter. RiverPark Advisors LLC boosted 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 worth $101,000 after acquiring an additional 324 shares in the last quarter. Finally, Osaic Holdings Inc. boosted 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 worth $115,000 after acquiring an additional 337 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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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