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

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

A number of other analysts have also issued reports on the stock. Stephens initiated coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price objective on the stock. Truist Financial decreased their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Bank of America dropped their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Oppenheimer assumed coverage on PROCEPT BioRobotics in a report on Monday, July 7th. They set a "market perform" rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.13.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT traded down $1.07 on Friday, reaching $57.10. 1,220,650 shares of the company's stock traded hands, compared to its average volume of 847,620. The stock has a market cap of $3.16 billion, a PE ratio of -33.43 and a beta of 1.07. The stock has a 50-day simple moving average of $58.29 and a 200 day simple moving average of $62.60. PROCEPT BioRobotics has a 12 month low of $47.04 and a 12 month high of $103.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.95 and a quick ratio of 7.75.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The business had revenue of $69.16 million for the quarter, compared to analysts' expectations of $65.39 million. During the same period in the prior year, the firm earned ($0.51) EPS. The company's revenue for the quarter was up 55.5% on a year-over-year basis. As a group, research analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of the 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 of the company's stock, valued at $883,180.87. This represents a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 100,000 shares of company stock valued at $6,271,250 in the last ninety days. 6.60% of the stock is owned by company insiders.

Institutional Trading of PROCEPT BioRobotics

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in PROCEPT BioRobotics by 9.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company's stock worth $527,000 after purchasing an additional 723 shares in the last quarter. Sei Investments Co. lifted its stake in shares of PROCEPT BioRobotics by 189.2% in the fourth quarter. Sei Investments Co. now owns 95,315 shares of the company's stock worth $7,675,000 after acquiring an additional 62,359 shares during the period. Vanguard Group Inc. lifted its stake in PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock valued at $413,907,000 after buying an additional 297,075 shares during the period. GAMMA Investing LLC raised its position in PROCEPT BioRobotics by 7,021.1% in the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company's stock valued at $373,000 after buying an additional 6,319 shares during the last quarter. Finally, Mariner LLC increased its position in shares of PROCEPT BioRobotics by 40.6% during the 4th quarter. Mariner LLC now owns 8,406 shares of the company's stock valued at $677,000 after purchasing an additional 2,429 shares during 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).