Analysts Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) PT at $90.00

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $90.00.

Several research firms have recently weighed in on PRCT. Truist Financial decreased their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Bank of America decreased their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Morgan Stanley reduced 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.

Insider Activity

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction dated 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 $6,161,966.46. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock valued at $368,322 in the last quarter. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. bought a new position in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $32,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of PROCEPT BioRobotics during the 1st quarter valued at $30,000. Thematics Asset Management purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at $46,000. Signaturefd LLC lifted its stake in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after buying an additional 145 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in PROCEPT BioRobotics in the 1st quarter worth $40,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $54.77 on Thursday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -28.09 and a beta of 1.10. 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 has a one year low of $47.04 and a one year high of $103.81. The company’s 50-day moving average is $55.24 and its 200 day moving average is $72.54.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $65.39 million. During the same quarter in the prior year, the company posted ($0.51) earnings per share. The business’s revenue for the quarter was up 55.5% on a year-over-year basis. Sell-side analysts expect that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

PROCEPT BioRobotics Company Profile

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).