PROCEPT BioRobotics (NASDAQ:PRCT) Shares Gap Up - Still a Buy?

Key Points

• Shares gapped up — the stock opened at $24.08 after a $21.71 close and last traded around $22.99 on volume of ~594,120; the 50‑day SMA is $25.24 and the 200‑day SMA is $29.56 (market cap ~$1.42B).
• Analyst sentiment is mixed with a consensus "Hold" and an average target of $41.45, amid several recent price‑target cuts (e.g., BofA to $20, Wells Fargo and TD Cowen to $34); ratings split is eight Buys, four Holds and two Sells.
• Recent quarter showed a slight EPS miss (‑$0.56 vs. ‑$0.55 est.) but revenue beat at $83.13M (up 20.1% YoY), and insiders showed confidence — a director bought 167,246 shares (~$4.28M) while insiders net bought 426,262 shares last quarter.

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $21.71, but opened at $24.08. PROCEPT BioRobotics shares last traded at $22.9860, with a volume of 594,120 shares changing hands.

Analyst Ratings Changes

PRCT has been the subject of several analyst reports. Bank of America lowered shares of PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Oppenheimer reaffirmed a "market perform" rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. Wells Fargo & Company reduced their price objective on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. 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. Finally, TD Cowen cut their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, PROCEPT BioRobotics has a consensus rating of "Hold" and an average target price of $41.45.

PROCEPT BioRobotics Stock Performance

The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -14.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The stock's 50-day simple moving average is $25.24 and its two-hundred day simple moving average is $29.56.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.01). The firm had revenue of $83.13 million for the quarter, compared to analyst estimates of $80.65 million. PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The firm's revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) EPS. Analysts forecast that PROCEPT BioRobotics Corporation will post -1.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Antal Rohit Desai acquired 167,246 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were bought at an average price of $25.58 per share, for a total transaction of $4,278,152.68. Following the acquisition, the director owned 167,246 shares in the company, valued at $4,278,152.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alaleh Nouri sold 6,892 shares of the business's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $163,340.40. Following the transaction, the executive vice president owned 114,264 shares in the company, valued at approximately $2,708,056.80. The trade was a 5.69% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 426,262 shares of company stock valued at $10,483,091 and sold 23,229 shares valued at $573,466. Company insiders own 17.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its holdings in shares of PROCEPT BioRobotics by 436.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company's stock worth $29,000 after purchasing an additional 746 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth about $30,000. Center for Financial Planning Inc. bought a new position in shares of PROCEPT BioRobotics during the 4th quarter worth about $40,000. Cache Advisors LLC bought a new position in shares of PROCEPT BioRobotics during the 1st quarter worth about $42,000. Finally, US Bancorp DE increased its holdings in shares of PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $60,000 after purchasing an additional 1,079 shares during the period. 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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