PROCEPT BioRobotics (NASDAQ:PRCT) Upgraded at Barclays

PROCEPT BioRobotics (NASDAQ:PRCT) was upgraded by stock analysts at Barclays to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

A number of other equities research analysts have also recently issued reports on PRCT. Piper Sandler dropped their price target on shares of PROCEPT BioRobotics from $35.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. UBS Group cut shares of PROCEPT BioRobotics from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Tuesday, July 28th. William Blair downgraded shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $20.00 target price on shares of PROCEPT BioRobotics in a research report on Wednesday, August 5th. Finally, Citigroup cut shares of PROCEPT BioRobotics to a “hold” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Hold” and a consensus target price of $25.50.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $17.90 on Tuesday. The company has a market capitalization of $1.03 billion, a P/E ratio of -9.23 and a beta of 0.92. The business’s 50 day moving average is $19.95 and its two-hundred day moving average is $22.41. The company has a current ratio of 6.55, a quick ratio of 5.35 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics has a 12-month low of $16.67 and a 12-month high of $38.11.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.01). The business had revenue of $94.50 million during the quarter, compared to analyst estimates of $92.77 million. PROCEPT BioRobotics had a negative net margin of 32.53% and a negative return on equity of 30.62%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) earnings per share. Analysts expect that PROCEPT BioRobotics will post -1.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Larry Wood purchased 23,900 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $20.85 per share, for a total transaction of $498,315.00. Following the completion of the transaction, the chief executive officer owned 23,900 shares of the company’s stock, valued at $498,315. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 1,043 shares of company stock worth $21,851 in the last quarter. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRCT. Caitong International Asset Management Co. Ltd boosted its holdings in shares of PROCEPT BioRobotics by 570.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,146 shares of the company’s stock worth $36,000 after purchasing an additional 975 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of PROCEPT BioRobotics by 994.5% in the second quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock valued at $27,000 after purchasing an additional 1,084 shares during the last quarter. Nykredit A S purchased a new position in PROCEPT BioRobotics during the second quarter worth approximately $27,000. Cache Advisors LLC purchased a new position in PROCEPT BioRobotics during the first quarter worth approximately $42,000. Finally, Essential Partners LLC boosted its stake in PROCEPT BioRobotics by 7,071.4% during the first quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after buying an additional 1,980 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corp. is a medical technology company focused on developing and commercializing robotic and image-guided systems for urologic procedures. The company’s primary focus is benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms.

PROCEPT’s flagship technology is Aquablation therapy, a minimally invasive, robotically controlled treatment that uses a high-velocity waterjet to remove prostate tissue. The therapy is delivered through the company’s AquaBeam Robotic System, which combines real-time imaging, surgical planning and robotic control to assist physicians during prostate procedures.