PROCEPT BioRobotics (NASDAQ:PRCT) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research report report published on Thursday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $95.00 target price on the stock.

PRCT has been the subject of several other reports. Truist Financial restated a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Bank of America upped their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Finally, TD Cowen raised their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.50.

PROCEPT BioRobotics Trading Up 3.5 %

Shares of NASDAQ PRCT opened at $88.94 on Thursday. PROCEPT BioRobotics has a 52 week low of $31.57 and a 52 week high of $103.81. The stock’s fifty day moving average is $80.97 and its 200 day moving average is $71.45. 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 (NASDAQ:PRCT) last released its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. During the same period last year, the firm earned ($0.51) EPS. The business’s quarterly revenue was up 66.4% compared to the same quarter last year. As a group, analysts forecast that PROCEPT BioRobotics will post -1.74 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $96.60, for a total value of $3,187,800.00. Following the completion of the transaction, the director now directly owns 231,363 shares in the company, valued at approximately $22,349,665.80. This represents a 12.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the transaction, the chief financial officer now owns 96,096 shares in the company, valued at approximately $6,964,077.12. This trade represents a 20.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 535,353 shares of company stock worth $46,627,426. 17.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds have recently made changes to their positions in the stock. Westfield Capital Management Co. LP acquired a new stake in PROCEPT BioRobotics during the 3rd quarter valued at approximately $72,563,000. Chicago Capital LLC acquired a new stake in shares of PROCEPT BioRobotics during the second quarter worth $14,233,000. Federated Hermes Inc. increased its position in shares of PROCEPT BioRobotics by 788.9% during the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after buying an additional 162,785 shares during the period. Transatlantique Private Wealth LLC bought a new position in PROCEPT BioRobotics during the second quarter worth $9,164,000. Finally, Point72 DIFC Ltd acquired a new position in PROCEPT BioRobotics in the third quarter valued at $11,890,000. 89.46% of the stock is currently owned by institutional investors.

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).