PROCEPT BioRobotics (NASDAQ:PRCT) Trading Up 7.4% – Should You Buy?

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) were up 7.4% during trading on Tuesday . The stock traded as high as $28.17 and last traded at $28.4110. Approximately 588,266 shares traded hands during trading, a decline of 62% from the average daily volume of 1,533,480 shares. The stock had previously closed at $26.45.

Wall Street Analyst Weigh In

PRCT has been the subject of several recent research reports. Leerink Partners dropped their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Oppenheimer reissued a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. Jefferies Financial Group downgraded PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Truist Financial decreased their price objective on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, PROCEPT BioRobotics presently has an average rating of “Hold” and an average price target of $41.45.

PROCEPT BioRobotics Stock Up 2.6%

The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $25.18 and a 200-day moving average of $29.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). The firm had revenue of $83.13 million for the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.45) earnings per share. On average, research analysts predict that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Kevin Waters sold 6,721 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $159,287.70. Following the completion of the transaction, the executive vice president directly owned 152,264 shares in the company, valued at $3,608,656.80. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alaleh Nouri sold 6,892 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $163,340.40. Following the completion of the transaction, the executive vice president owned 114,264 shares of the company’s stock, valued at approximately $2,708,056.80. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in PROCEPT BioRobotics by 436.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after purchasing an additional 746 shares during the last quarter. Center for Financial Planning Inc. acquired a new stake in PROCEPT BioRobotics during the 4th quarter worth approximately $40,000. US Bancorp DE lifted its holdings in PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after purchasing an additional 1,079 shares during the last quarter. Cache Advisors LLC acquired a new stake in PROCEPT BioRobotics during the 1st quarter worth approximately $42,000. Finally, Lazard Asset Management LLC lifted its holdings in PROCEPT BioRobotics by 90.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock worth $98,000 after purchasing an additional 810 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Company Profile

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.