PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $84.13.

Several equities analysts recently commented on PRCT shares. Stephens started coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, July 9th. They set an “overweight” rating and a $70.00 price objective for the company. Wall Street Zen cut PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Oppenheimer started coverage on PROCEPT BioRobotics in a research report on Monday, July 7th. They set a “market perform” rating for the company. Morgan Stanley reduced their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Finally, Bank of America reduced 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.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the sale, the director owned 14,363 shares in the company, valued at $883,180.87. This trade represents a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 100,000 shares of company stock worth $6,271,250 in the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC raised its position in PROCEPT BioRobotics by 40.7% during the second quarter. CWM LLC now owns 1,228 shares of the company’s stock valued at $71,000 after purchasing an additional 355 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of PROCEPT BioRobotics by 22.4% in the 2nd quarter. Aberdeen Group plc now owns 53,868 shares of the company’s stock valued at $3,057,000 after purchasing an additional 9,870 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of PROCEPT BioRobotics by 19.1% in the 2nd quarter. Blue Trust Inc. now owns 5,952 shares of the company’s stock valued at $343,000 after purchasing an additional 956 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of PROCEPT BioRobotics by 22.2% in the 2nd quarter. IFP Advisors Inc now owns 4,050 shares of the company’s stock valued at $233,000 after purchasing an additional 737 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in PROCEPT BioRobotics by 5.7% during the second quarter. Blair William & Co. IL now owns 497,205 shares of the company’s stock valued at $28,639,000 after buying an additional 26,919 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Down 5.0%

Shares of PRCT opened at $55.72 on Tuesday. The business has a 50-day moving average of $58.97 and a 200 day moving average of $60.96. The firm has a market cap of $3.08 billion, a P/E ratio of -32.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.75 and a current ratio of 8.95. PROCEPT BioRobotics has a fifty-two week low of $47.04 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.04. The company had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $65.39 million. PROCEPT BioRobotics had a negative net margin of 36.20% and a negative return on equity of 28.09%. PROCEPT BioRobotics’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.51) earnings per share. As a group, research analysts forecast that PROCEPT BioRobotics will post -1.75 EPS for the current year.

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).