PROCEPT BioRobotics (NASDAQ:PRCT) Shares Up 6.6% - Should You Buy?

Key Points

• PROCEPT BioRobotics shares rose 6.6% to $18.39, although trading volume was below average. The stock remains below its 50-day and 200-day moving averages of $19.95 and $22.92, respectively.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $25.09. Recent actions included target prices of $20 and $23, alongside downgrades to hold, market perform, and sell.
• The company reported quarterly revenue of $94.5 million, up 19.3% year over year and above estimates, but missed on EPS with a loss of $0.47. PROCEPT remains unprofitable, with a negative net margin of 32.53%, while CEO Larry Wood purchased nearly $498,000 of company stock.

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) traded up 6.6% on Tuesday. The stock traded as high as $18.07 and last traded at $18.39. Approximately 1,028,044 shares were traded during trading, a decline of 33% from the average daily volume of 1,533,729 shares. The stock had previously closed at $17.25.

Analyst Upgrades and Downgrades

PRCT has been the topic of a number of analyst reports. Evercore set a $23.00 target price on shares of PROCEPT BioRobotics in a report on Wednesday, August 5th. Citigroup cut PROCEPT BioRobotics to a "hold" rating in a research note on Thursday, July 2nd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $20.00 price target on shares of PROCEPT BioRobotics in a research note on Wednesday, August 5th. William Blair cut PROCEPT BioRobotics from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of PROCEPT BioRobotics in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of "Hold" and an average target price of $25.09.

PROCEPT BioRobotics Stock Up 6.5%

The company has a market capitalization of $1.05 billion, a PE ratio of -9.45 and a beta of 0.91. The company has a current ratio of 6.55, a quick ratio of 5.35 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $19.95 and a 200 day moving average of $22.92.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.47) earnings per share (EPS) 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 company had revenue of $94.50 million during the quarter, compared to analysts' expectations of $92.77 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The business's quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.67 EPS for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Larry Wood purchased 23,900 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $20.85 per share, with a total value 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. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,043 shares of company stock worth $21,851 in the last three months. 4.00% of the stock is owned by insiders.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its position in shares of PROCEPT BioRobotics by 994.5% during the second quarter. Versant Capital Management Inc now owns 1,193 shares of the company's stock worth $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 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd increased its position 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 worth $36,000 after buying an additional 975 shares during the period. Cache Advisors LLC purchased a new stake in PROCEPT BioRobotics in the first quarter valued at approximately $42,000. Finally, Essential Partners LLC boosted its holdings in shares of PROCEPT BioRobotics by 7,071.4% in the first quarter. Essential Partners LLC now owns 2,008 shares of the company's stock valued at $50,000 after acquiring an additional 1,980 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.

About PROCEPT BioRobotics

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.

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