PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• PROCEPT BioRobotics Corporation has received a consensus rating of "Moderate Buy" from nine brokerages, with an average 12-month price target set at $73.22.
• Institutional investors own approximately 89.46% of PROCEPT's stock, indicating strong support from major financial firms.
• The company reported a revenue increase of 48.3% year-over-year, reaching $79.18 million for the quarter, despite a loss of ($0.35) earnings per share.

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $73.2222.

Several equities research analysts recently weighed in on the stock. Oppenheimer raised shares of PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a research report on Tuesday, September 2nd. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company cut their price objective on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Morgan Stanley cut their price objective on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Piper Sandler cut their price objective on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock traded up $1.42 during trading on Wednesday, reaching $38.56. The company's stock had a trading volume of 196,596 shares, compared to its average volume of 1,013,294. The business's 50-day moving average price is $46.77 and its 200-day moving average price is $53.62. The firm has a market cap of $2.15 billion, a PE ratio of -24.90 and a beta of 1.03. PROCEPT BioRobotics has a 52 week low of $36.90 and a 52 week high of $103.81. 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 posted its quarterly earnings data 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. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The business had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. During the same quarter in the prior year, the business posted ($0.50) earnings per share. PROCEPT BioRobotics's revenue was up 48.3% compared to the same quarter last year. Equities analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd acquired a new position in PROCEPT BioRobotics during the first quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in PROCEPT BioRobotics during the first quarter worth about $40,000. Vega Investment Solutions raised its stake in PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company's stock worth $45,000 after acquiring an additional 265 shares in the last quarter. CWM LLC raised its stake in PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after acquiring an additional 358 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in PROCEPT BioRobotics by 1,262.5% during the second quarter. AlphaQuest LLC now owns 1,090 shares of the company's stock worth $63,000 after acquiring an additional 1,010 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

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).