PROCEPT BioRobotics (NASDAQ:PRCT) Hits New 1-Year Low - Should You Sell?

Key Points

• PROCEPT BioRobotics' shares hit a new 52-week low at $36.75, with a trading volume of 550,157 shares, and the stock last traded at $37.11.
• Analyst ratings are mixed, with Oppenheimer upgrading the stock to "outperform" with a $60.00 target, while Piper Sandler cut their target from $80.00 to $55.00, indicating varied outlooks on the company's performance.
• The company's quarterly earnings showed a loss per share of ($0.35), beating estimates, and revenue increased by 48.3% year-over-year to $79.18 million, signaling potential growth despite a negative net margin.

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $36.75 and last traded at $37.11, with a volume of 550157 shares trading hands. The stock had previously closed at $38.03.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PRCT shares. 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 report on Tuesday, September 2nd. BTIG Research reissued a "neutral" rating on shares of PROCEPT BioRobotics in a report on Tuesday, September 16th. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Piper Sandler decreased their price target 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. Finally, Wells Fargo & Company dropped their price objective on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $70.00.

PROCEPT BioRobotics Trading Up 2.9%

The firm has a market cap of $2.14 billion, a PE ratio of -24.81 and a beta of 1.03. The company's fifty day moving average price is $44.39 and its two-hundred day moving average price is $52.61. 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 (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business had revenue of $79.18 million for the quarter, compared to analysts' expectations of $75.67 million. During the same quarter in the prior year, the firm posted ($0.50) EPS. The company's revenue was up 48.3% compared to the same quarter last year. As a group, sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics in the 1st quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in PROCEPT BioRobotics in the 1st quarter worth approximately $40,000. Vega Investment Solutions boosted its position in PROCEPT BioRobotics by 52.0% during the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company's stock worth $45,000 after acquiring an additional 265 shares during the period. CWM LLC increased its holdings in shares of PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after purchasing an additional 358 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of PROCEPT BioRobotics by 1,262.5% during the second quarter. AlphaQuest LLC now owns 1,090 shares of the company's stock valued at $63,000 after purchasing an additional 1,010 shares in the last quarter. Institutional investors and hedge funds 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).