Research Analysts Issue Forecasts for PROCEPT BioRobotics Co.’s Q2 2024 Earnings (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Research analysts at Leerink Partnrs decreased their Q2 2024 earnings per share estimates for PROCEPT BioRobotics in a report issued on Wednesday, May 1st. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings per share of ($0.56) for the quarter, down from their previous forecast of ($0.50). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.96) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at ($2.00) EPS, Q1 2025 earnings at ($0.62) EPS, Q2 2025 earnings at ($0.45) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($1.49) EPS, FY2026 earnings at ($0.89) EPS and FY2027 earnings at ($0.31) EPS.

A number of other equities research analysts have also issued reports on PRCT. Wells Fargo & Company boosted their target price on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Truist Financial upped their price objective on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. TD Cowen boosted their price target on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Finally, Piper Sandler raised their price objective on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics has an average rating of “Buy” and an average price target of $61.20.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $62.79 on Monday. The stock has a market capitalization of $3.23 billion, a P/E ratio of -29.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.44 and a current ratio of 8.52. The business’s fifty day moving average is $50.75 and its two-hundred day moving average is $44.31. PROCEPT BioRobotics has a 1 year low of $24.83 and a 1 year high of $65.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.58 million. During the same quarter in the previous year, the company posted ($0.63) EPS. The business’s revenue was up 82.4% compared to the same quarter last year.

Insider Activity

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 2,749 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $128,295.83. Following the completion of the sale, the executive vice president now owns 62,913 shares in the company, valued at approximately $2,936,149.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Kevin Waters sold 28,677 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $50.09, for a total value of $1,436,430.93. Following the transaction, the chief financial officer now owns 33,523 shares in the company, valued at $1,679,167.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alaleh Nouri sold 2,749 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $128,295.83. Following the transaction, the executive vice president now owns 62,913 shares in the company, valued at approximately $2,936,149.71. The disclosure for this sale can be found here. Insiders have sold 138,371 shares of company stock worth $7,459,789 in the last 90 days. Company insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds have recently bought and sold shares of the business. Sei Investments Co. lifted its stake in shares of PROCEPT BioRobotics by 35.9% in the first quarter. Sei Investments Co. now owns 22,777 shares of the company’s stock worth $1,126,000 after buying an additional 6,011 shares during the last quarter. Swiss National Bank raised its holdings in PROCEPT BioRobotics by 1.8% in the 1st quarter. Swiss National Bank now owns 89,700 shares of the company’s stock worth $4,433,000 after acquiring an additional 1,600 shares during the period. Quantbot Technologies LP boosted its holdings in PROCEPT BioRobotics by 151.9% during the first quarter. Quantbot Technologies LP now owns 30,574 shares of the company’s stock valued at $1,511,000 after acquiring an additional 18,437 shares during the period. Essex Investment Management Co. LLC grew its position in shares of PROCEPT BioRobotics by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock valued at $2,971,000 after purchasing an additional 336 shares during the last quarter. Finally, SpiderRock Advisors LLC bought a new position in shares of PROCEPT BioRobotics in the first quarter worth about $307,000. 89.46% of the stock is owned by institutional investors and hedge funds.

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).