PROCEPT BioRobotics (NASDAQ:PRCT) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• PROCEPT BioRobotics received a "sell (e+)" rating from Weiss Ratings, affirming concerns about the stock's performance.
• The average rating for the company is currently a "Moderate Buy" with a price target of $67.50, amidst varying ratings from different analysts.
• PROCEPT reported a 48.3% year-over-year increase in revenue, with quarterly earnings beating estimates despite a negative return on equity.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the company. BTIG Research restated a "neutral" rating on shares of PROCEPT BioRobotics in a report on Tuesday, September 16th. Stephens began coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price objective on the stock. 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 report on Tuesday, September 2nd. Morgan Stanley lowered their price target on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Truist Financial lowered their price target on PROCEPT BioRobotics from $64.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, October 15th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PROCEPT BioRobotics currently has an average rating of "Moderate Buy" and an average price target of $67.50.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT opened at $34.99 on Friday. The firm has a market capitalization of $1.95 billion, a PE ratio of -22.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86. The business has a 50-day moving average of $37.21 and a two-hundred day moving average of $48.97. PROCEPT BioRobotics has a 12 month low of $32.11 and a 12 month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. The company had revenue of $79.18 million during the quarter, compared to analyst estimates of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The firm's revenue was up 48.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.50) earnings per share. As a group, research analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC grew its stake in shares of PROCEPT BioRobotics by 1.3% in the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company's stock worth $1,158,000 after purchasing an additional 250 shares in the last quarter. Vega Investment Solutions grew its stake in shares of PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company's stock worth $45,000 after purchasing an additional 265 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 32.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after purchasing an additional 270 shares in the last quarter. RiverPark Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 22.5% in the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company's stock worth $101,000 after purchasing an additional 324 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of PROCEPT BioRobotics by 20.3% in the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock worth $115,000 after purchasing an additional 337 shares in the last quarter. 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).

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