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

Key Points

• PROCEPT BioRobotics receives a consensus recommendation of "Moderate Buy" from analysts, with one hold rating and eight buy ratings among nine firms covering the company.
• The average 12-month price target for PROCEPT BioRobotics stock is set at $73.22, although various analysts have recently adjusted their target prices downward.
• The company's quarterly earnings report revealed a 48.3% year-over-year revenue increase, outperforming consensus estimates with reported revenue of $79.18 million.

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $73.2222.

PRCT has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wells Fargo & Company reduced their price objective on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a research note on Tuesday, September 2nd. Morgan Stanley dropped their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of the firm's stock in a transaction 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 owned 14,363 shares in the company, valued at approximately $883,180.87. This trade represents a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.40% of the company's stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of hedge funds have recently added to or reduced their stakes in PRCT. Ensign Peak Advisors Inc increased its stake in shares of PROCEPT BioRobotics by 1.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock worth $1,141,000 after purchasing an additional 150 shares in the last quarter. Advisory Services Network LLC grew its holdings in PROCEPT BioRobotics by 1.3% during the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company's stock valued at $1,158,000 after buying an additional 250 shares during the last quarter. Vega Investment Solutions grew its holdings in PROCEPT BioRobotics by 52.0% during the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company's stock valued at $45,000 after buying an additional 265 shares during the last quarter. Nisa Investment Advisors LLC increased its position in PROCEPT BioRobotics by 32.5% during the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after buying an additional 270 shares in the last quarter. Finally, RiverPark Advisors LLC raised its holdings in shares of PROCEPT BioRobotics by 22.5% in the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company's stock worth $101,000 after acquiring an additional 324 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $39.52 on Wednesday. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.20 billion, a PE ratio of -25.50 and a beta of 1.03. The company's 50 day simple moving average is $48.03 and its 200-day simple moving average is $54.28. PROCEPT BioRobotics has a 12-month low of $37.12 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The firm had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. During the same quarter in the prior year, the firm earned ($0.50) EPS. PROCEPT BioRobotics's revenue for the quarter was up 48.3% on a year-over-year basis. As a group, equities analysts predict 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).

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