PROCEPT BioRobotics (NASDAQ:PRCT) Shares Up 5.9% - Time to Buy?

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) shot up 5.9% during trading on Thursday . The company traded as high as $65.26 and last traded at $65.25. 704,305 shares were traded during mid-day trading, a decline of 15% from the average session volume of 825,043 shares. The stock had previously closed at $61.63.

Analyst Ratings Changes

A number of research firms have recently commented on PRCT. Bank of America dropped their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Morgan Stanley dropped their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.00.

PROCEPT BioRobotics Stock Down 3.3%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The stock has a market capitalization of $3.48 billion, a P/E ratio of -32.26 and a beta of 1.10. The stock's fifty day simple moving average is $55.27 and its two-hundred day simple moving average is $68.46.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The firm had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.51) EPS. As a group, research analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. This represents a 0.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.79, for a total transaction of $1,619,750.00. Following the sale, the director now directly owns 89,363 shares of the company's stock, valued at $5,789,828.77. This represents a 21.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,455 shares of company stock valued at $3,504,572. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of PROCEPT BioRobotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company's stock worth $656,979,000 after buying an additional 866,328 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of PROCEPT BioRobotics by 43.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company's stock worth $82,462,000 after buying an additional 429,461 shares during the period. Wellington Management Group LLP grew its position in shares of PROCEPT BioRobotics by 38.8% during the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock worth $120,051,000 after buying an additional 416,819 shares during the period. Alliancebernstein L.P. grew its position in shares of PROCEPT BioRobotics by 22.3% during the 1st quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company's stock worth $124,892,000 after buying an additional 391,215 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of PROCEPT BioRobotics by 47.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,055,762 shares of the company's stock worth $61,510,000 after buying an additional 341,906 shares during the period. Institutional investors and hedge funds 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).