PROCEPT BioRobotics (NASDAQ:PRCT) Sets New 52-Week Low – Time to Sell?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $18.88 and last traded at $19.2550, with a volume of 139255 shares. The stock had previously closed at $21.22.

Analyst Ratings Changes

Several analysts have issued reports on PRCT shares. Leerink Partners downgraded shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $31.00 to $29.00 in a research note on Thursday, June 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research report on Thursday, April 30th. Truist Financial reiterated a “hold” rating and set a $25.00 price target (down from $30.00) on shares of PROCEPT BioRobotics in a report on Thursday, July 2nd. Evercore initiated coverage on PROCEPT BioRobotics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $30.00 price target on the stock. Finally, Wall Street Zen raised PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Hold” and an average price target of $37.27.

PROCEPT BioRobotics Trading Down 12.0%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -10.28 and a beta of 0.87. The company’s 50 day simple moving average is $24.70 and its two-hundred day simple moving average is $26.55.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. The company had revenue of $83.13 million for the quarter, compared to analyst estimates of $80.52 million. During the same period last year, the business earned ($0.45) EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Research analysts expect that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

A number of institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its position in PROCEPT BioRobotics by 994.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock worth $27,000 after purchasing an additional 1,084 shares during the last quarter. 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. Center for Financial Planning Inc. bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at approximately $40,000. Cache Advisors LLC bought a new stake in shares of PROCEPT BioRobotics in the 1st quarter valued at approximately $42,000. Finally, Essential Partners LLC grew its stake in shares of PROCEPT BioRobotics by 7,071.4% in the 1st quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock valued at $50,000 after buying an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

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.