PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• PROCEPT BioRobotics has a consensus analyst rating of "Hold" from 14 research firms, with eight buys, four holds, and two sells. The average 1-year price target is about $41.45.
• The company reported fiscal Q1 results with revenue of $83.13 million, beating estimates, while EPS came in at -$0.56, slightly worse than expected. Revenue rose 20.1% year over year, but profitability remained negative.
• Insider activity was mixed: Director Antal Rohit Desai bought 167,246 shares, while EVP Kevin Waters sold 6,721 shares. Institutional ownership remains high at 89.46% of shares outstanding.

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) have received a consensus rating of "Hold" from the fourteen research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $41.4545.

A number of research analysts have issued reports on PRCT shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of PROCEPT BioRobotics in a research note on Tuesday, April 21st. Jefferies Financial Group downgraded PROCEPT BioRobotics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. Leerink Partners cut their price target on PROCEPT BioRobotics from $55.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Bank of America downgraded PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $38.00 to $20.00 in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $26.12 on Monday. The stock's 50 day moving average is $25.17 and its 200-day moving average is $28.93. PROCEPT BioRobotics has a twelve month low of $19.35 and a twelve month high of $66.85. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -14.35 and a beta of 0.83. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The company had revenue of $83.13 million for the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) EPS. Sell-side analysts forecast that PROCEPT BioRobotics will post -1.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai purchased 167,246 shares of the company's stock in a transaction dated Thursday, March 5th. The stock was purchased at an average price of $25.58 per share, for a total transaction of $4,278,152.68. Following the transaction, the director owned 167,246 shares in the company, valued at $4,278,152.68. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kevin Waters sold 6,721 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $159,287.70. Following the transaction, the executive vice president directly owned 152,264 shares in the company, valued at approximately $3,608,656.80. The trade was a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders purchased 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. 17.40% of the stock is owned by corporate insiders.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently bought and sold shares of PRCT. Advisory Services Network LLC increased its position in PROCEPT BioRobotics by 1.3% in the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company's stock worth $1,158,000 after buying an additional 250 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in PROCEPT BioRobotics by 0.3% in the third quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company's stock worth $4,368,000 after buying an additional 307 shares in the last quarter. Osaic Holdings Inc. increased its position in PROCEPT BioRobotics by 20.3% in the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock worth $115,000 after buying an additional 337 shares in the last quarter. ProShare Advisors LLC increased its position in PROCEPT BioRobotics by 4.7% in the fourth quarter. ProShare Advisors LLC now owns 9,726 shares of the company's stock worth $306,000 after buying an additional 438 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in PROCEPT BioRobotics by 1.4% in the second quarter. California State Teachers Retirement System now owns 49,446 shares of the company's stock worth $2,848,000 after buying an additional 693 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company's stock.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company's technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company's flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.

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