PROCEPT BioRobotics (NASDAQ:PRCT) Hits New 1-Year Low – What’s Next?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $27.23 and last traded at $27.40, with a volume of 1497866 shares changing hands. The stock had previously closed at $28.93.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wall Street Zen raised shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Wells Fargo & Company cut their target price on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. TD Cowen reduced their price target on shares of PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Truist Financial reduced their price objective on PROCEPT BioRobotics from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Finally, Jefferies Financial Group raised PROCEPT BioRobotics from a “hold” rating to a “strong-buy” rating in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.40.

PROCEPT BioRobotics Stock Down 5.3%

The business has a 50-day moving average price of $32.17 and a 200-day moving average price of $36.15. The stock has a market cap of $1.53 billion, a PE ratio of -17.91 and a beta of 0.99. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. The company had revenue of $83.33 million during the quarter, compared to analysts’ expectations of $80.78 million. PROCEPT BioRobotics had a negative net margin of 28.20% and a negative return on equity of 21.72%. The firm’s revenue for the quarter was up 42.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.40) earnings per share. As a group, analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. raised its stake in PROCEPT BioRobotics by 58.6% in the 3rd quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock valued at $122,052,000 after purchasing an additional 1,262,928 shares during the last quarter. Chicago Capital LLC raised its position in shares of PROCEPT BioRobotics by 175.7% in the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock valued at $55,992,000 after buying an additional 999,873 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of PROCEPT BioRobotics by 113.5% in the second quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company’s stock valued at $92,065,000 after buying an additional 849,792 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of PROCEPT BioRobotics by 229.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,128,288 shares of the company’s stock worth $40,269,000 after buying an additional 786,094 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in PROCEPT BioRobotics by 105.2% during the third quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company’s stock worth $51,909,000 after acquiring an additional 745,778 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

About PROCEPT BioRobotics

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.