PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives $84.13 Average Price Target from Analysts

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $84.13.

Several equities research analysts have weighed in on PRCT shares. Wall Street Zen cut PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Stephens started coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 target price for the company. Morgan Stanley lowered their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Truist Financial reduced their price target 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. Finally, Oppenheimer assumed coverage on PROCEPT BioRobotics in a research report on Monday, July 7th. They issued a "market perform" rating for the company.

Insider Transactions at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was 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 of the company's stock, valued at approximately $883,180.87. The trade was a 63.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 100,000 shares of company stock worth $6,271,250. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently modified their holdings of the company. ANTIPODES PARTNERS Ltd purchased a new position in shares of PROCEPT BioRobotics during the 1st quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of PROCEPT BioRobotics during the 1st quarter worth $40,000. Thematics Asset Management purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth $46,000. CWM LLC lifted its stake in shares of PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after purchasing an additional 358 shares during the period. Finally, Signaturefd LLC lifted its stake 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 purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Price Performance

PRCT traded down $2.92 on Tuesday, hitting $55.72. 3,891,204 shares of the company's stock traded hands, compared to its average volume of 840,729. The company's 50 day simple moving average is $58.97 and its 200-day simple moving average is $61.14. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -32.78 and a beta of 1.07. PROCEPT BioRobotics has a one year low of $47.04 and a one year 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 announced its earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The firm had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The company's quarterly revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.51) EPS. As a group, research analysts anticipate that PROCEPT BioRobotics will post -1.75 EPS for the current year.

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).