PROCEPT BioRobotics (NASDAQ:PRCT) Rating Increased to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded PROCEPT BioRobotics from a "strong sell" to a "sell," while analyst coverage overall is mixed (8 Buys, 4 Holds, 2 Sells) with a consensus price target of $40.82 and an average rating of "Hold."
• PROCEPT missed its latest quarter, reporting EPS of ($0.53) vs. ($0.32) expected and revenue of $76.38M vs. $93.7M expected, leaving the company with a negative net margin (31.02%) and negative return on equity.
• Notable insider activity: EVP Kevin Waters sold 6,721 shares while Director Antal Rohit Desai purchased 167,246 shares; insiders were net buyers of 426,262 shares this quarter and now own 6.6% of the company.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday.

A number of other research firms have also issued reports on PRCT. Wells Fargo & Company reduced their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an "overweight" rating on the stock in a research note on Thursday, February 26th. TD Cowen reduced their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PROCEPT BioRobotics in a research note on Tuesday. Leerink Partners reduced their target price on PROCEPT BioRobotics from $55.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. Finally, Truist Financial reduced their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $40.82.

PROCEPT BioRobotics Stock Performance

PRCT opened at $24.36 on Friday. PROCEPT BioRobotics has a 1-year low of $19.35 and a 1-year high of $66.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. The stock's 50 day simple moving average is $25.53 and its 200 day simple moving average is $29.83. The stock has a market cap of $1.37 billion, a P/E ratio of -14.25 and a beta of 0.94.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The company had revenue of $76.38 million during the quarter, compared to analysts' expectations of $93.70 million. During the same period in the previous year, the company posted ($0.35) EPS. PROCEPT BioRobotics's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that PROCEPT BioRobotics will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Kevin Waters sold 6,721 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $159,287.70. Following the transaction, the executive vice president owned 152,264 shares of the company's stock, valued at $3,608,656.80. This represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Antal Rohit Desai purchased 167,246 shares of PROCEPT BioRobotics stock in a transaction on Thursday, March 5th. The shares were acquired at an average cost of $25.58 per share, for a total transaction of $4,278,152.68. Following the purchase, the director owned 167,246 shares in the company, valued at approximately $4,278,152.68. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. Corporate insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. JTC Employer Solutions Trustee Ltd purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth $30,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of PROCEPT BioRobotics by 436.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company's stock worth $29,000 after buying an additional 746 shares during the last quarter. Center for Financial Planning Inc. acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth $40,000. US Bancorp DE increased its holdings in shares of PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $60,000 after buying an additional 1,079 shares during the last quarter. Finally, Cache Advisors LLC acquired a new stake in shares of PROCEPT BioRobotics during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company's technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company's flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.

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