PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 6.6% - Still a Buy?

Key Points

• PROCEPT's stock jumped 6.6% to $26.72 midday, but analysts have been trimming targets and the consensus rating is a Hold with an average price target of $40.82.
• The company missed quarterly expectations, reporting EPS of ($0.53) vs. ($0.32) expected and revenue of $76.4M vs. $93.7M expected, though revenue was up 11.9% year‑over‑year and sell‑side forecasts show FY EPS around -1.75.
• Insiders were net buyers recently (a director purchased 98,699 shares and insiders bought ~426,262 shares in the last 90 days) while institutions own about 89% of the stock; the balance sheet shows strong liquidity (current ratio 6.85) and low debt‑to‑equity (0.14).

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report)'s stock price was up 6.6% during mid-day trading on Friday . The company traded as high as $26.56 and last traded at $26.7220. Approximately 592,017 shares changed hands during trading, a decline of 63% from the average daily volume of 1,608,519 shares. The stock had previously closed at $25.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PRCT. TD Cowen cut their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Morgan Stanley decreased their target price on PROCEPT BioRobotics from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Tuesday, December 2nd. Wells Fargo & Company dropped their price target on PROCEPT BioRobotics from $51.00 to $34.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Truist Financial reduced their price objective on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Finally, Bank of America lowered shares of PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and decreased their price objective for the stock from $38.00 to $20.00 in a report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $40.82.

PROCEPT BioRobotics Trading Up 6.5%

The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.51 billion, a PE ratio of -15.62 and a beta of 1.02. The stock has a 50 day moving average price of $27.53 and a 200 day moving average price of $31.68.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The firm had revenue of $76.38 million during the quarter, compared to analysts' expectations of $93.70 million. During the same period in the previous year, the company earned ($0.35) earnings per share. PROCEPT BioRobotics's revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Kevin Waters sold 6,721 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $159,287.70. Following the sale, the executive vice president directly owned 152,264 shares of the company's stock, valued at approximately $3,608,656.80. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Antal Rohit Desai bought 98,699 shares of the business's stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $24.55 per share, for a total transaction of $2,423,060.45. Following the completion of the purchase, the director owned 426,262 shares of the company's stock, valued at approximately $10,464,732.10. The trade was a 30.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. Insiders own 6.60% of the company's stock.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its holdings in PROCEPT BioRobotics by 2,727.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 228,186 shares of the company's stock worth $7,179,000 after buying an additional 220,115 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in PROCEPT BioRobotics by 570.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,146 shares of the company's stock worth $36,000 after acquiring an additional 975 shares during the last quarter. Virtu Financial LLC purchased a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $469,000. T. Rowe Price Investment Management Inc. lifted its position in 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 in the last quarter. Finally, Invesco Ltd. boosted its stake in PROCEPT BioRobotics by 19.8% during the 4th quarter. Invesco Ltd. now owns 43,570 shares of the company's stock valued at $1,371,000 after purchasing an additional 7,191 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

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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