PROCEPT BioRobotics (NASDAQ:PRCT) Upgraded at 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 report published on Saturday morning.

Other research analysts also recently issued research reports about the company. Bank of America dropped their price objective on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Truist Financial decreased their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley decreased their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $90.00.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT traded up $0.25 during trading hours on Friday, reaching $58.78. The company had a trading volume of 405,795 shares, compared to its average volume of 817,304. The firm's 50 day moving average price is $55.28 and its 200-day moving average price is $70.08. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of -30.12 and a beta of 1.10. PROCEPT BioRobotics has a 52 week low of $47.04 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. During the same quarter in the prior year, the company earned ($0.51) EPS. The company's revenue was up 55.5% compared to the same quarter last year. On average, analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 107,991 shares of the company's stock, valued at $6,161,966.46. The trade was a 0.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Reza Zadno sold 5,475 shares of the firm'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 in the company, valued at approximately $9,875,374.20. The trade was a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,455 shares of company stock valued at $368,322. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. purchased a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $32,000. ANTIPODES PARTNERS Ltd acquired a new position in PROCEPT BioRobotics during the 1st quarter worth about $30,000. Thematics Asset Management purchased a new position in PROCEPT BioRobotics in the fourth quarter valued at $46,000. Signaturefd LLC increased its position in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after purchasing an additional 145 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PROCEPT BioRobotics in the first quarter valued at approximately $40,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

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).