PROCEPT BioRobotics (NASDAQ:PRCT) Sets New 52-Week Low - What's Next?

Key Points

• PROCEPT BioRobotics' stock reached a new 52-week low of $35.95, closing at $36.44 with a trading volume of 97,444 shares.
• Recent analyst ratings show a mix of upgrades and price target adjustments, with an average rating of "Moderate Buy" and a consensus target of $70.00.
• The company reported earnings of ($0.35) per share, exceeding expectations, and achieved a 48.3% increase in revenue year-over-year.

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $35.95 and last traded at $36.44, with a volume of 97444 shares. The stock had previously closed at $37.65.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PRCT. Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price target for the company in a research report on Tuesday, September 2nd. Stephens began coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target for the company. Wells Fargo & Company dropped their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, BTIG Research reiterated a "neutral" rating on shares of PROCEPT BioRobotics in a report on Tuesday, September 16th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics currently has an average rating of "Moderate Buy" and a consensus price target of $70.00.

PROCEPT BioRobotics Stock Performance

The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -23.15 and a beta of 1.03. 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 firm has a 50 day moving average price of $43.63 and a 200-day moving average price of $52.42.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. The business had revenue of $79.18 million for the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The company's revenue for the quarter was up 48.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.50) earnings per share. As a group, sell-side analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCT. ANTIPODES PARTNERS Ltd acquired a new stake in PROCEPT BioRobotics in the first quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PROCEPT BioRobotics in the first quarter valued at $40,000. Vega Investment Solutions raised its stake in PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company's stock valued at $45,000 after buying an additional 265 shares in the last quarter. CWM LLC raised its stake in PROCEPT BioRobotics by 69.5% in the first quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after buying an additional 358 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in PROCEPT BioRobotics by 1,262.5% in the second quarter. AlphaQuest LLC now owns 1,090 shares of the company's stock valued at $63,000 after buying an additional 1,010 shares in 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).

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