PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 5.9% - Should You Buy?

Key Points

• PROCEPT BioRobotics shares rose 5.9% on Friday, trading as high as $20.91 after closing at $19.75, though volume was well below average.
• Analyst sentiment remains mixed: the stock currently has a consensus Hold rating and a consensus target price of $37.27, with recent actions including downgrades from Citigroup and Leerink Partners, while Piper Sandler kept an Overweight rating and a $35 target.
• The company posted Q1 revenue growth of 20.1% year over year to $83.13 million, but it still missed EPS estimates and remains unprofitable, with analysts expecting a full-year loss of $1.53 per share.

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report)'s share price was up 5.9% during trading on Friday . The stock traded as high as $20.91 and last traded at $20.9250. Approximately 440,550 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,567,738 shares. The stock had previously closed at $19.75.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen raised PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th. Citigroup lowered shares of PROCEPT BioRobotics to a "hold" rating in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PROCEPT BioRobotics in a research note on Tuesday, April 21st. Piper Sandler reiterated an "overweight" rating and set a $35.00 price target (up from $28.00) on shares of PROCEPT BioRobotics in a report on Thursday, April 30th. Finally, Leerink Partners lowered shares of PROCEPT BioRobotics from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $31.00 to $29.00 in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of "Hold" and a consensus target price of $37.27.

PROCEPT BioRobotics Price Performance

The company's 50-day moving average is $24.77 and its 200-day moving average is $26.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.73 and a quick ratio of 5.51. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -11.43 and a beta of 0.87.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The company had revenue of $83.13 million for the quarter, compared to analyst estimates of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The business's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the company posted ($0.45) EPS. On average, research analysts expect that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prosight Management LP raised its holdings in PROCEPT BioRobotics by 1,692.4% in the fourth quarter. Prosight Management LP now owns 1,380,000 shares of the company's stock valued at $43,415,000 after buying an additional 1,303,009 shares during the period. Alliancebernstein L.P. increased its position in shares of PROCEPT BioRobotics by 58.6% in the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company's stock worth $122,052,000 after acquiring an additional 1,262,928 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of PROCEPT BioRobotics by 59.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company's stock valued at $102,919,000 after acquiring an additional 1,218,815 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of PROCEPT BioRobotics by 229.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,128,288 shares of the company's stock valued at $40,269,000 after acquiring an additional 786,094 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of PROCEPT BioRobotics by 105.2% during the 3rd quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company's stock valued at $51,909,000 after acquiring an additional 745,778 shares in the last quarter. Institutional investors and hedge funds 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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