PROCEPT BioRobotics Corporation (PRCT) – What Are Brokerages Saying About This Stock?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) has received an average recommendation of “Hold” from the sixteen analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $25.25.

A number of research analysts recently commented on PRCT shares. UBS Group upped their price objective on PROCEPT BioRobotics from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company cut PROCEPT BioRobotics from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a research note on Wednesday, August 5th. Jefferies Financial Group reissued a “hold” rating and set a $20.00 price target on shares of PROCEPT BioRobotics in a report on Wednesday, August 5th. William Blair downgraded shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 5th. Finally, Leerink Partners upped their price target on shares of PROCEPT BioRobotics from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Thursday.

Insiders Place Their Bets

In related news, insider Pooja Sharma sold 4,710 shares of PROCEPT BioRobotics stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $19.71, for a total value of $92,834.10. Following the sale, the insider directly owned 106,471 shares in the company, valued at $2,098,543.41. This trade represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 5,753 shares of company stock valued at $114,685. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRCT. Versant Capital Management Inc raised its holdings in shares of PROCEPT BioRobotics by 994.5% during the second quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock valued at $27,000 after buying an additional 1,084 shares during the last quarter. Nykredit A S acquired a new position in shares of PROCEPT BioRobotics during the second quarter worth approximately $27,000. Sterling Capital Management LLC boosted its position in shares of PROCEPT BioRobotics by 849.2% during the third quarter. Sterling Capital Management LLC now owns 1,870 shares of the company’s stock worth $34,000 after buying an additional 1,673 shares during the period. Signaturefd LLC boosted its position in shares of PROCEPT BioRobotics by 162.7% during the third quarter. Signaturefd LLC now owns 1,899 shares of the company’s stock worth $35,000 after buying an additional 1,176 shares during the period. Finally, Essential Partners LLC grew its holdings in PROCEPT BioRobotics by 7,071.4% in the 1st quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after buying an additional 1,980 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

NASDAQ:PRCT opened at $20.62 on Monday. The firm has a market capitalization of $1.19 billion, a PE ratio of -10.21 and a beta of 0.88. The stock has a 50 day moving average of $19.32 and a 200-day moving average of $23.13. PROCEPT BioRobotics has a 52 week low of $16.67 and a 52 week high of $38.11. The company has a current ratio of 5.89, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). The company had revenue of $98.29 million for the quarter, compared to analyst estimates of $100.52 million. PROCEPT BioRobotics had a negative return on equity of 33.23% and a negative net margin of 32.60%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.38) earnings per share. Analysts predict that PROCEPT BioRobotics will post -1.72 EPS for the current year.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms. The company’s technology is designed to provide a minimally invasive alternative to conventional surgical procedures.

Its primary product is the AquaBeam Robotic System, which uses image guidance, robotic assistance and a high-velocity waterjet to remove targeted prostate tissue.