PROCEPT BioRobotics (NASDAQ:PRCT) Sets New 52-Week Low - Should You Sell?

Key Points

• PROCEPT BioRobotics Corporation (NASDAQ:PRCT) hit a new 52-week low, trading at $37.10 before closing at $38.05, amidst a trading volume of 49,136 shares.
• Analysts have varying outlooks on PRCT, with eight ratings as Buy, one as Hold, and a revised average price target set at $73.22.
• The company reported a 48.3% year-over-year increase in revenue, totaling $79.18 million, although they still posted a negative earnings per share of ($0.35).

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $37.10 and last traded at $38.05, with a volume of 49136 shares trading hands. The stock had previously closed at $37.50.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRCT shares. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Oppenheimer raised PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a report on Tuesday, September 2nd. Wells Fargo & Company lowered their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Morgan Stanley cut 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 report on Tuesday, July 15th. Finally, Stephens initiated coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

PROCEPT BioRobotics Stock Up 2.8%

The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $46.39 and a 200-day moving average price of $53.44. The stock has a market capitalization of $2.17 billion, a P/E ratio of -25.20 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm had revenue of $79.18 million for the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business's revenue was up 48.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.50) earnings per share. As a group, research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ANTIPODES PARTNERS Ltd bought a new position in shares of PROCEPT BioRobotics during the first quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in PROCEPT BioRobotics in the first quarter worth approximately $40,000. Vega Investment Solutions grew its stake in PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company's stock worth $45,000 after purchasing an additional 265 shares in the last quarter. CWM LLC grew its stake in PROCEPT BioRobotics by 69.5% in the first quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after purchasing an additional 358 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in PROCEPT BioRobotics by 1,262.5% in the second quarter. AlphaQuest LLC now owns 1,090 shares of the company's stock worth $63,000 after purchasing an additional 1,010 shares in the last quarter. 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).