PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• PROCEPT BioRobotics Corporation received a consensus rating of "Moderate Buy" from nine brokerages, with two hold and seven buy recommendations.
• The average twelve-month target price for the stock among analysts is $74.88, with notable price target adjustments from various firms.
• The company reported a 48.3% increase in revenue year-over-year, totaling $79.18 million for the last quarter, despite a negative earnings per share of ($0.35).

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $74.8750.

PRCT has been the topic of several research reports. Oppenheimer began coverage on shares of PROCEPT BioRobotics in a report on Monday, July 7th. They set a "market perform" rating on the stock. Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Stephens began coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 target price for the company. Bank of America lowered their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Piper Sandler lowered their target price on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the sale, the director directly owned 14,363 shares in the company, valued at $883,180.87. This trade represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 100,000 shares of company stock valued at $6,271,250 in the last three months. 17.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics during the first quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PROCEPT BioRobotics during the first quarter worth $40,000. Vega Investment Solutions lifted its stake in shares of 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 buying an additional 265 shares during the period. Thematics Asset Management acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $46,000. Finally, CWM LLC lifted its stake in shares of PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after buying an additional 358 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Down 1.6%

PRCT stock traded down $0.6220 during trading on Friday, hitting $39.0980. 81,631 shares of the company's stock traded hands, compared to its average volume of 1,019,114. The firm has a market capitalization of $2.18 billion, a P/E ratio of -25.22 and a beta of 1.05. The business has a fifty day simple moving average of $53.87 and a two-hundred day simple moving average of $57.26. 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 has a 1 year low of $37.12 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. The company had revenue of $79.18 million for the quarter, compared to analyst estimates of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. PROCEPT BioRobotics's revenue was up 48.3% compared to the same quarter last year. During the same period last year, the company posted ($0.50) earnings per share. Sell-side analysts anticipate that PROCEPT BioRobotics will post -1.75 EPS for the current 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).