PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $90.00 Consensus Target Price from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $90.00.

Several research analysts have issued reports on the stock. Bank of America decreased their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Morgan Stanley cut their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Truist Financial dropped their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th.

Insider Buying and Selling

In other news, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value 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 represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Waters sold 733 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,455 shares of company stock valued at $368,322. Corporate insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors have recently made changes to their positions in the company. Westfield Capital Management Co. LP raised its position in PROCEPT BioRobotics by 43.2% during the first quarter. Westfield Capital Management Co. LP now owns 748,557 shares of the company's stock valued at $43,611,000 after acquiring an additional 225,894 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its holdings in shares of PROCEPT BioRobotics by 20.9% during the 1st quarter. Evolutionary Tree Capital Management LLC now owns 73,867 shares of the company's stock valued at $4,303,000 after purchasing an additional 12,749 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of PROCEPT BioRobotics by 12.5% in the 1st quarter. Blair William & Co. IL now owns 470,286 shares of the company's stock valued at $27,399,000 after purchasing an additional 52,392 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in PROCEPT BioRobotics in the first quarter worth $932,000. Finally, Werba Rubin Papier Wealth Management acquired a new position in PROCEPT BioRobotics during the first quarter worth $12,235,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Price Performance

PRCT traded down $1.69 during trading on Thursday, reaching $53.12. The stock had a trading volume of 470,506 shares, compared to its average volume of 805,692. PROCEPT BioRobotics has a 1-year low of $47.04 and a 1-year high of $103.81. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -27.24 and a beta of 1.10. The stock has a 50 day moving average of $55.66 and a two-hundred day moving average of $72.86. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. The firm had revenue of $69.16 million for the quarter, compared to analysts' expectations of $65.39 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. PROCEPT BioRobotics's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share. As a group, equities analysts anticipate that PROCEPT BioRobotics will post -1.75 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).