PROCEPT BioRobotics (PRCT) Set to Announce Earnings on Wednesday

PROCEPT BioRobotics (NASDAQ:PRCT) is scheduled to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.55) per share for the quarter. PROCEPT BioRobotics has set its FY 2024 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.10). PROCEPT BioRobotics had a negative return on equity of 46.59% and a negative net margin of 77.75%. The firm had revenue of $43.58 million for the quarter, compared to analyst estimates of $41.79 million. During the same quarter in the prior year, the business posted ($0.56) EPS. The business’s revenue was up 83.3% on a year-over-year basis. On average, analysts expect PROCEPT BioRobotics to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $52.05 on Tuesday. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $54.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77. The firm has a market capitalization of $2.68 billion, a P/E ratio of -23.24 and a beta of 1.01. The company’s 50 day moving average price is $49.37 and its two-hundred day moving average price is $42.94.

Insider Activity

In other news, CFO Kevin Waters sold 1,024 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $48.83, for a total transaction of $50,001.92. Following the completion of the transaction, the chief financial officer now owns 102,149 shares of the company’s stock, valued at $4,987,935.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kevin Waters sold 1,024 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $48.83, for a total transaction of $50,001.92. Following the completion of the transaction, the chief financial officer now owns 102,149 shares of the company’s stock, valued at $4,987,935.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alaleh Nouri sold 14,694 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.97, for a total transaction of $734,259.18. Following the transaction, the executive vice president now directly owns 47,351 shares of the company’s stock, valued at approximately $2,366,129.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,149 shares of company stock valued at $4,653,720. Insiders own 19.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PRCT shares. Wells Fargo & Company raised their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Truist Financial raised their target price on shares of PROCEPT BioRobotics from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $46.00.

PROCEPT BioRobotics Company Profile

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).