PROCEPT BioRobotics (NASDAQ:PRCT) Trading Up 7.4% - Should You Buy?

Key Points

• PROCEPT BioRobotics shares rose 7.4% on Tuesday, trading as high as $28.17 after closing at $26.45 the prior day. Volume was below average, with about 588,266 shares traded.
• Analyst sentiment remains mixed: while some firms keep Buy or Overweight ratings, the consensus rating is Hold with a consensus price target of $41.45. Recent moves included Bank of America cutting its rating to Underperform and lowering its target to $20.
• The company posted 20.1% year-over-year revenue growth in its latest quarter to $83.13 million, though it missed EPS estimates by a penny. Insiders have also been active, with one executive selling shares and a director making a large purchase.

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) rose 7.4% on Tuesday . The company traded as high as $28.17 and last traded at $28.4110. Approximately 588,266 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 1,533,480 shares. The stock had previously closed at $26.45.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRCT. Oppenheimer reissued a "market perform" rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. Robert W. Baird initiated coverage on PROCEPT BioRobotics in a research report on Friday, March 6th. They issued a "neutral" rating and a $30.00 price objective on the stock. Bank of America lowered PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $38.00 to $20.00 in a research note on Thursday, February 26th. Leerink Partners cut their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, February 26th. Finally, Piper Sandler restated an "overweight" rating and issued a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, PROCEPT BioRobotics has a consensus rating of "Hold" and a consensus price target of $41.45.

PROCEPT BioRobotics Stock Up 7.7%

The company has a market capitalization of $1.62 billion, a PE ratio of -15.66 and a beta of 0.83. 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 company has a 50-day moving average of $25.06 and a two-hundred day moving average of $29.17.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. The business had revenue of $83.13 million during the quarter, compared to analysts' expectations of $80.52 million. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. PROCEPT BioRobotics's revenue was up 20.1% on a year-over-year basis. Sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 5,363 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $25.96, for a total value of $139,223.48. Following the sale, the executive vice president directly owned 105,354 shares of the company's stock, valued at approximately $2,734,989.84. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai bought 98,699 shares of PROCEPT BioRobotics stock in a transaction dated Monday, March 9th. The stock was purchased at an average cost of $24.55 per share, for a total transaction of $2,423,060.45. Following the completion of the acquisition, the director directly 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. Over the last three months, insiders have bought 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. Insiders own 17.40% of the company's stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently added to or reduced their stakes in the stock. Prosight Management LP grew its stake in shares of PROCEPT BioRobotics by 1,692.4% during 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 last quarter. Alliancebernstein L.P. grew its stake in shares of PROCEPT BioRobotics by 58.6% during the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company's stock valued at $122,052,000 after buying an additional 1,262,928 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of PROCEPT BioRobotics by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company's stock valued at $102,919,000 after buying an additional 1,218,815 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of PROCEPT BioRobotics by 229.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,128,288 shares of the company's stock valued at $40,269,000 after buying an additional 786,094 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of PROCEPT BioRobotics by 105.2% during the third quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company's stock valued at $51,909,000 after buying an additional 745,778 shares during the last quarter. 89.46% of the stock is owned by 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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