Robert W. Baird Initiates Coverage on PROCEPT BioRobotics (NASDAQ:PRCT)

Key Points

• Robert W. Baird initiated coverage on PROCEPT BioRobotics (NASDAQ:PRCT) with a neutral rating and a $30 price target, implying roughly an 18.3% upside from the prior close.
• Analyst views are mixed—several firms have cut ratings or targets (Bank of America to underperform with a $20 PT; Weiss reissued a sell), yet the MarketBeat consensus remains Hold with an average price target of $40.82.
• PROCEPT missed quarterly expectations, reporting EPS of ‑$0.53 vs. ‑$0.32 estimated and revenue of $76.38M vs. $93.7M expected, though revenue was up 11.9% year‑over‑year; the stock trades near $25.35 with a $1.43B market cap.

Stock analysts at Robert W. Baird initiated coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) in a report issued on Friday,Benzinga reports. The firm set a "neutral" rating and a $30.00 price target on the stock. Robert W. Baird's price target indicates a potential upside of 18.34% from the company's previous close.

Several other equities analysts have also recently commented on PRCT. Bank of America cut shares of PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Truist Financial decreased their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Weiss Ratings reissued a "sell (e+)" rating on shares of PROCEPT BioRobotics in a research note on Thursday, January 22nd. Wall Street Zen lowered PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Eight equities 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $40.82.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock opened at $25.35 on Friday. PROCEPT BioRobotics has a 12-month low of $19.35 and a 12-month high of $66.85. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -14.82 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. The firm's fifty day moving average price is $29.41 and its 200 day moving average price is $33.14.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The business had revenue of $76.38 million during the quarter, compared to analyst estimates of $93.70 million. During the same period in the prior year, the firm earned ($0.35) EPS. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of PROCEPT BioRobotics by 436.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company's stock valued at $29,000 after buying an additional 746 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in PROCEPT BioRobotics in the third quarter worth approximately $30,000. Center for Financial Planning Inc. bought a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $40,000. Vega Investment Solutions lifted its stake in PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company's stock valued at $45,000 after acquiring an additional 265 shares during the last quarter. Finally, US Bancorp DE grew its position in PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $60,000 after acquiring an additional 1,079 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

About PROCEPT BioRobotics

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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