PROCEPT BioRobotics (NASDAQ:PRCT) Trading Down 6.9% – What’s Next?

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) traded down 6.9% during mid-day trading on Friday . The company traded as low as $23.59 and last traded at $23.61. 229,988 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,577,030 shares. The stock had previously closed at $25.35.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Thursday, January 22nd. Piper Sandler lowered their price target on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen cut shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Robert W. Baird started coverage on shares of PROCEPT BioRobotics in a report on Friday. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, TD Cowen cut their price target on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.82.

PROCEPT BioRobotics Stock Performance

The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -13.67 and a beta of 1.02. The firm’s fifty day moving average price is $29.41 and its 200 day moving average price is $33.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The firm had revenue of $76.38 million for the quarter, compared to analyst estimates of $93.70 million. During the same quarter last year, the company earned ($0.35) earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in PROCEPT BioRobotics by 7.3% during the 1st quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock worth $1,101,000 after buying an additional 1,286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in PROCEPT BioRobotics by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after purchasing an additional 13,767 shares during the period. Intech Investment Management LLC grew its stake in PROCEPT BioRobotics by 54.4% during the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock worth $1,654,000 after purchasing an additional 10,002 shares in the last quarter. AlphaQuest LLC grew its stake in PROCEPT BioRobotics by 1,262.5% during the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in PROCEPT BioRobotics by 16.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,908 shares of the company’s stock worth $744,000 after purchasing an additional 1,828 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

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.