PROCEPT BioRobotics (NASDAQ:PRCT) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of PROCEPT BioRobotics (NASDAQ:PRCT - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday.

PRCT has been the topic of a number of other research reports. Truist Financial dropped their price objective on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Morgan Stanley cut their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Bank of America lowered their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

PROCEPT BioRobotics Stock Up 2.0%

NASDAQ PRCT traded up $1.15 during trading on Friday, hitting $58.53. The stock had a trading volume of 916,307 shares, compared to its average volume of 818,908. The company has a market capitalization of $3.24 billion, a PE ratio of -30.02 and a beta of 1.10. PROCEPT BioRobotics has a 12 month low of $47.04 and a 12 month high of $103.81. The company's 50-day moving average price is $55.27 and its two-hundred day moving average price is $70.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) EPS. As a group, sell-side analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Insider Activity

In other news, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. The trade was a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock valued at $368,322 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently modified their holdings of the business. ANTIPODES PARTNERS Ltd acquired a new stake in PROCEPT BioRobotics in the 1st quarter worth about $30,000. Raleigh Capital Management Inc. acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PROCEPT BioRobotics in the first quarter valued at approximately $40,000. Thematics Asset Management bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $46,000. Finally, CWM LLC grew its position in PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after buying an additional 358 shares in the last quarter. Institutional investors 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).