Wall Street Zen Upgrades PROCEPT BioRobotics (NASDAQ:PRCT) to Hold

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

A number of other research firms have also recently weighed in 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 on the stock in a research note on Friday, April 25th. Truist Financial decreased their price target 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. Finally, Morgan Stanley reduced their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.00.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock traded down $0.28 during mid-day trading on Friday, reaching $58.36. The company had a trading volume of 103,707 shares, compared to its average volume of 816,814. The business has a fifty day simple moving average of $55.29 and a 200 day simple moving average of $70.00. The company has a market cap of $3.23 billion, a P/E ratio of -29.83 and a beta of 1.10. PROCEPT BioRobotics has a fifty-two week low of $47.04 and a fifty-two week high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly 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. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. During the same period last year, the business posted ($0.51) EPS. The business's revenue was up 55.5% compared to the same quarter last year. On average, equities research analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 5,475 shares of the business'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 transaction 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. The trade was a 3.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 733 shares of the 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 completion of the sale, the chief financial officer now owns 107,991 shares in the company, 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. Over the last ninety days, insiders sold 6,455 shares of company stock worth $368,322. 6.60% of the stock is owned by company insiders.

Institutional Trading of PROCEPT BioRobotics

A number of institutional investors have recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd purchased a new position in shares of PROCEPT BioRobotics during the 1st quarter valued at approximately $30,000. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter worth $32,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in PROCEPT BioRobotics in the 1st quarter valued at approximately $40,000. Thematics Asset Management purchased a new stake in PROCEPT BioRobotics during the 4th quarter worth about $46,000. Finally, CWM LLC increased its position in shares of PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after purchasing an additional 358 shares during the last quarter. 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).