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

Key Points

• PROCEPT BioRobotics hit a new 52-week low, trading as low as $17.93 after closing at $18.52 the prior day, highlighting continued pressure on the stock.
• Recent analyst views are mixed but lean cautious: the consensus rating is Hold with an average price target of $37.27, though some firms still have buy-equivalent ratings while others have cut it to hold or sell.
• The company’s latest quarterly results showed revenue growth of 20.1% year over year to $83.13 million, but it still posted a loss and missed EPS estimates by a penny.

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $17.93 and last traded at $17.9250, with a volume of 221922 shares changing hands. The stock had previously closed at $18.52.

Analysts Set New Price Targets

PRCT has been the subject of a number of research reports. Evercore assumed coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, June 24th. They set an "outperform" rating and a $30.00 target price for the company. Wall Street Zen raised shares of PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 25th. Piper Sandler restated an "overweight" rating and set a $35.00 price target (up from $28.00) on shares of PROCEPT BioRobotics in a research note on Thursday, April 30th. Truist Financial reaffirmed a "hold" rating and issued a $25.00 price objective (down from $30.00) on shares of PROCEPT BioRobotics in a report on Thursday, July 2nd. Finally, Citigroup lowered shares of PROCEPT BioRobotics to a "hold" rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of "Hold" and an average target price of $37.27.

PROCEPT BioRobotics Stock Performance

The company's fifty day simple moving average is $23.87 and its 200 day simple moving average is $26.00. The stock has a market capitalization of $1.02 billion, a P/E ratio of -9.82 and a beta of 0.87. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The firm had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. During the same period in the previous year, the company posted ($0.45) EPS. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in PROCEPT BioRobotics by 142.0% in the fourth quarter. SG Americas Securities LLC now owns 84,294 shares of the company's stock valued at $2,652,000 after purchasing an additional 49,457 shares in the last quarter. Baillie Gifford & Co. grew its stake in PROCEPT BioRobotics by 18.3% in the 4th quarter. Baillie Gifford & Co. now owns 1,015,978 shares of the company's stock worth $31,963,000 after buying an additional 157,147 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in shares of PROCEPT BioRobotics in the 4th quarter worth $1,864,000. DNB Asset Management AS increased its holdings in shares of PROCEPT BioRobotics by 213.9% in the 4th quarter. DNB Asset Management AS now owns 99,567 shares of the company's stock worth $3,132,000 after buying an additional 67,848 shares during the last quarter. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at $3,876,000. 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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