PROCEPT BioRobotics (NASDAQ:PRCT) Hits New 52-Week Low - Time to 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) hit a new 52-week low during trading 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.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PRCT. Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Stephens initiated coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price target for the company. Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price objective on the stock in a research note on Tuesday, September 2nd. 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, Wells Fargo & Company dropped their target price on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, PROCEPT BioRobotics has an average rating of "Moderate Buy" and an average price target of $73.22.

PROCEPT BioRobotics Price Performance

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 company has a market capitalization of $2.16 billion, a PE ratio of -25.04 and a beta of 1.03. The stock's 50-day moving average is $47.61 and its two-hundred day moving average is $54.16.

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

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd purchased a new stake in shares of PROCEPT BioRobotics in the 1st quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PROCEPT BioRobotics during the 1st quarter worth $40,000. Vega Investment Solutions raised 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 buying an additional 265 shares during the last quarter. CWM LLC raised its position in PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after buying an additional 358 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of PROCEPT BioRobotics by 1,262.5% in the 2nd 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. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.