PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Consensus Rating of "Moderate Buy" from Analysts

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $90.00.

Several brokerages recently weighed in on PRCT. Bank of America decreased their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Truist Financial decreased their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 11th.

Insiders Place Their Bets

In related news, Director Antal Rohit Desai sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.79, for a total transaction of $1,619,750.00. Following the completion of the transaction, the director now owns 89,363 shares in the company, valued at $5,789,828.77. This trade represents a 21.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 100,000 shares of company stock worth $6,271,250. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC lifted its position in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after buying an additional 145 shares during the period. Ensign Peak Advisors Inc raised its position in PROCEPT BioRobotics by 1.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock valued at $1,141,000 after purchasing an additional 150 shares during the last quarter. Naviter Wealth LLC raised its position in PROCEPT BioRobotics by 6.0% in the 4th quarter. Naviter Wealth LLC now owns 3,089 shares of the company's stock valued at $249,000 after purchasing an additional 176 shares during the last quarter. Amundi raised its position in PROCEPT BioRobotics by 0.9% in the 4th quarter. Amundi now owns 20,143 shares of the company's stock valued at $1,742,000 after purchasing an additional 183 shares during the last quarter. Finally, Arizona State Retirement System raised its position in PROCEPT BioRobotics by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,285 shares of the company's stock valued at $1,150,000 after purchasing an additional 218 shares during the last quarter. Institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Up 0.7%

NASDAQ PRCT opened at $58.63 on Friday. The stock has a market cap of $3.24 billion, a PE ratio of -34.49 and a beta of 1.10. PROCEPT BioRobotics has a fifty-two week low of $47.04 and a fifty-two week high of $103.81. The business has a 50 day moving average price of $57.42 and a two-hundred day moving average price of $65.04. The company has a quick ratio of 7.75, a current ratio of 8.95 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.04. The business had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The business's revenue was up 55.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.51) EPS. As a group, sell-side analysts predict that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

PROCEPT BioRobotics Company Profile

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.