PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) have been given an average rating of "Moderate Buy" by the seven brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $90.00.

Several equities research analysts have recently commented on the stock. Bank of America dropped their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th.

PROCEPT BioRobotics Trading Up 5.5%

PROCEPT BioRobotics stock traded up $3.42 during trading hours on Monday, reaching $65.05. The stock had a trading volume of 2,169,304 shares, compared to its average volume of 831,564. The stock has a market cap of $3.60 billion, a PE ratio of -33.36 and a beta of 1.10. PROCEPT BioRobotics has a 52 week low of $47.04 and a 52 week high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The company has a fifty day simple moving average of $55.15 and a 200-day simple moving average of $68.68.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. During the same quarter last year, the firm earned ($0.51) EPS. The company's revenue was up 55.5% on a year-over-year basis. Analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at $6,161,966.46. This trade represents a 0.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This trade represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock valued at $368,322 in the last three months. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Signaturefd LLC raised its holdings in PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after buying an additional 145 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in PROCEPT BioRobotics by 1.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock worth $1,141,000 after buying an additional 150 shares during the last quarter. Naviter Wealth LLC raised its holdings in PROCEPT BioRobotics by 6.0% in the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company's stock worth $249,000 after buying an additional 176 shares during the last quarter. Amundi raised its holdings in PROCEPT BioRobotics by 0.9% in the fourth quarter. Amundi now owns 20,143 shares of the company's stock worth $1,742,000 after buying an additional 183 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company's stock worth $1,150,000 after buying an additional 218 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).