PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Consensus Recommendation of "Buy" from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) has been given a consensus rating of "Buy" by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $45.60.

PRCT has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an "overweight" rating in a research note on Tuesday, January 9th. Truist Financial boosted their target price on PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 22,349 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $50.16, for a total value of $1,121,025.84. Following the completion of the sale, the chief financial officer now owns 33,523 shares in the company, valued at $1,681,513.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Alaleh Nouri sold 5,306 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total transaction of $265,034.70. Following the completion of the sale, the executive vice president now owns 47,351 shares in the company, valued at $2,365,182.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Waters sold 22,349 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $50.16, for a total value of $1,121,025.84. Following the sale, the chief financial officer now owns 33,523 shares of the company's stock, valued at approximately $1,681,513.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,459 shares of company stock valued at $6,153,402. 19.60% of the stock is owned by company insiders.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors have recently made changes to their positions in PRCT. FMR LLC boosted its stake in PROCEPT BioRobotics by 13.0% during the third quarter. FMR LLC now owns 7,553,460 shares of the company's stock valued at $247,829,000 after buying an additional 870,364 shares during the last quarter. Wellington Management Group LLP bought a new position in PROCEPT BioRobotics during the third quarter valued at approximately $26,404,000. BlackRock Inc. boosted its stake in PROCEPT BioRobotics by 36.1% during the second quarter. BlackRock Inc. now owns 2,580,126 shares of the company's stock valued at $91,207,000 after buying an additional 684,194 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in PROCEPT BioRobotics by 89.8% during the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company's stock valued at $44,144,000 after buying an additional 636,750 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in PROCEPT BioRobotics by 10.4% during the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company's stock valued at $133,697,000 after buying an additional 385,271 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Price Performance

PRCT traded down $0.44 during trading on Tuesday, reaching $46.56. The stock had a trading volume of 338,044 shares, compared to its average volume of 494,020. PROCEPT BioRobotics has a one year low of $24.83 and a one year high of $52.32. The stock has a market cap of $2.37 billion, a PE ratio of -20.79 and a beta of 1.01. The business has a 50-day moving average of $48.48 and a 200-day moving average of $40.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.10). PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. The business had revenue of $43.58 million for the quarter, compared to the consensus estimate of $41.79 million. During the same period in the prior year, the business posted ($0.56) EPS. PROCEPT BioRobotics's revenue for the quarter was up 83.3% on a year-over-year basis. As a group, equities research analysts anticipate that PROCEPT BioRobotics will post -2 EPS for the current fiscal year.

About PROCEPT BioRobotics

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).