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

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

Several other research firms have also commented on PRCT. Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Oppenheimer started coverage on shares of PROCEPT BioRobotics in a report on Monday, July 7th. They issued a "market perform" rating for the company. Bank of America cut their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Stephens initiated coverage on shares of PROCEPT BioRobotics in a research report on Wednesday. They issued an "overweight" rating and a $70.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.50.

PROCEPT BioRobotics Trading Down 4.3%

Shares of NASDAQ:PRCT traded down $2.56 during trading on Friday, reaching $56.65. The company's stock had a trading volume of 548,062 shares, compared to its average volume of 847,037. The stock has a market capitalization of $3.13 billion, a PE ratio of -33.32 and a beta of 1.07. PROCEPT BioRobotics has a 12 month low of $47.04 and a 12 month high of $103.81. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13. The firm's 50 day simple moving average is $58.29 and its two-hundred day simple moving average is $62.60.

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, beating analysts' consensus estimates of ($0.49) by $0.04. The business had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The company's quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) earnings per share. On average, research analysts predict that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 14,363 shares in the company, valued at $883,180.87. This represents a 63.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 100,000 shares of company stock worth $6,271,250. Company insiders own 6.60% of the company's stock.

Institutional Trading of PROCEPT BioRobotics

A number of large investors have recently modified their holdings of PRCT. Diversified Trust Co increased its holdings in PROCEPT BioRobotics by 66.2% during the 2nd quarter. Diversified Trust Co now owns 11,947 shares of the company's stock worth $688,000 after purchasing an additional 4,760 shares during the period. Mirador Capital Partners LP purchased a new position in shares of PROCEPT BioRobotics during the second quarter valued at $431,000. Harbor Capital Advisors Inc. bought a new stake in shares of PROCEPT BioRobotics in the second quarter valued at about $2,413,000. Militia Capital Partners LP bought a new stake in shares of PROCEPT BioRobotics in the first quarter valued at about $816,000. Finally, Osterweis Capital Management Inc. raised its holdings in shares of PROCEPT BioRobotics by 98.0% in the first quarter. Osterweis Capital Management Inc. now owns 173,735 shares of the company's stock valued at $10,122,000 after acquiring an additional 85,990 shares in the last quarter. Hedge funds and other 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).