PROCEPT BioRobotics (NASDAQ:PRCT) Given “Neutral” Rating at Bank of America

PROCEPT BioRobotics (NASDAQ:PRCT)‘s stock had its “neutral” rating reiterated by stock analysts at Bank of America in a report issued on Monday,Benzinga reports. They currently have a $38.00 price objective on the stock, down from their previous price objective of $55.00. Bank of America‘s target price would indicate a potential upside of 5.97% from the company’s current price.

Several other analysts have also recently commented on the stock. Oppenheimer upgraded shares of PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research note on Tuesday, September 2nd. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday. Leerink Partners reissued an “outperform” rating and set a $55.00 price target on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Wednesday, October 8th. Finally, Truist Financial reduced their price objective on PROCEPT BioRobotics from $64.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.78.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $35.86 on Monday. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -23.44 and a beta of 0.99. The business’s 50 day moving average is $33.03 and its two-hundred day moving average is $44.17. PROCEPT BioRobotics has a 12-month low of $27.80 and a 12-month high of $97.49. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The firm had revenue of $83.33 million for the quarter, compared to analyst estimates of $80.78 million. During the same quarter in the prior year, the company posted ($0.40) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 42.6% on a year-over-year basis. Research analysts expect that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCT. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of PROCEPT BioRobotics by 107.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,376 shares of the company’s stock valued at $4,450,000 after purchasing an additional 39,516 shares in the last quarter. Swiss National Bank increased its stake in shares of PROCEPT BioRobotics by 2.6% in the first quarter. Swiss National Bank now owns 99,600 shares of the company’s stock worth $5,803,000 after buying an additional 2,500 shares during the last quarter. Entropy Technologies LP acquired a new stake in PROCEPT BioRobotics in the first quarter valued at $414,000. Nuveen LLC acquired a new stake in PROCEPT BioRobotics in the first quarter valued at $11,302,000. Finally, Russell Investments Group Ltd. boosted its stake in PROCEPT BioRobotics by 124,755.6% during the 1st quarter. Russell Investments Group Ltd. now owns 44,948 shares of the company’s stock valued at $2,619,000 after acquiring an additional 44,912 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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).