PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives $90.00 Average PT from Brokerages

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

A number of research firms have recently commented on PRCT. Truist Financial cut their price objective on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Bank of America reduced their price objective 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.

PROCEPT BioRobotics Stock Performance

PRCT traded up $0.69 on Friday, reaching $57.60. The stock had a trading volume of 554,155 shares, compared to its average volume of 839,883. The business's 50-day moving average price is $57.58 and its two-hundred day moving average price is $64.23. The company has a market cap of $3.19 billion, a P/E ratio of -33.88 and a beta of 1.10. PROCEPT BioRobotics has a 12-month low of $47.04 and a 12-month high of $103.81. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13.

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

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the transaction, the director owned 14,363 shares of the company's stock, valued at approximately $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 100,000 shares of company stock valued at $6,271,250 over the last ninety days. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRCT. Signaturefd LLC grew its holdings in shares of PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after purchasing an additional 145 shares during the period. Ensign Peak Advisors Inc boosted its holdings 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 grew its stake in shares of 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 buying an additional 176 shares during the period. Amundi grew its stake in shares of 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 buying an additional 183 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of PROCEPT BioRobotics by 1.5% during the 4th 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. Hedge funds and other institutional investors 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).