PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $97.86.

A number of equities research analysts recently commented on PRCT shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Morgan Stanley started coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 price objective for the company. TD Cowen lifted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group started coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company.

PROCEPT BioRobotics Stock Down 1.2 %

NASDAQ PRCT opened at $86.46 on Friday. The firm has a market cap of $4.51 billion, a PE ratio of -44.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock’s 50 day simple moving average is $90.46 and its 200 day simple moving average is $77.94. PROCEPT BioRobotics has a one year low of $41.75 and a one year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. 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 company earned ($0.51) EPS. The business’s quarterly revenue was up 66.4% compared to the same quarter last year. As a group, sell-side analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $6,964,077.12. The trade was a 20.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total value of $2,584,668.60. Following the completion of the sale, the chief executive officer now owns 179,185 shares in the company, valued at approximately $17,529,668.55. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 487,816 shares of company stock worth $44,820,549. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC increased its position in PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after buying an additional 233,430 shares during the last quarter. Federated Hermes Inc. increased its position in 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 last quarter. Penserra Capital Management LLC acquired a new position in PROCEPT BioRobotics during the third quarter worth approximately $2,308,000. Nicholas Investment Partners LP acquired a new position in PROCEPT BioRobotics during the second quarter worth approximately $4,657,000. Finally, Principal Financial Group Inc. increased its position in PROCEPT BioRobotics by 290.2% during the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after buying an additional 51,030 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

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).