PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives $41.36 Consensus Target Price from Brokerages

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have earned an average rating of “Hold” from the fourteen analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $41.3636.

Several research firms recently weighed in on PRCT. Oppenheimer restated a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Truist Financial reduced their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Robert W. Baird began coverage on shares of PROCEPT BioRobotics in a report on Friday, March 6th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Leerink Partners lowered shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $31.00 to $29.00 in a report on Thursday, June 11th.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 5,363 shares of PROCEPT BioRobotics stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $25.96, for a total transaction of $139,223.48. Following the transaction, the executive vice president owned 105,354 shares in the company, valued at approximately $2,734,989.84. The trade was a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 6,363 shares of company stock worth $167,703. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently added to or reduced their stakes in PRCT. Prosight Management LP lifted its holdings in PROCEPT BioRobotics by 1,692.4% in the 4th quarter. Prosight Management LP now owns 1,380,000 shares of the company’s stock worth $43,415,000 after buying an additional 1,303,009 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in PROCEPT BioRobotics by 58.6% in the 3rd quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock worth $122,052,000 after buying an additional 1,262,928 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in PROCEPT BioRobotics by 59.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company’s stock worth $102,919,000 after buying an additional 1,218,815 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in PROCEPT BioRobotics by 229.7% in the 3rd 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 lifted its holdings in PROCEPT BioRobotics by 105.2% in the 3rd quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company’s stock worth $51,909,000 after buying an additional 745,778 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $22.10 on Friday. 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 firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -12.14 and a beta of 0.85. The firm’s fifty day simple moving average is $25.74 and its 200 day simple moving average is $28.22. PROCEPT BioRobotics has a twelve month low of $19.35 and a twelve month high of $62.17.

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

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.