PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Average Rating of “Buy” from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has received an average rating of “Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $46.00.

Several equities analysts recently issued reports on PRCT shares. Wells Fargo & Company raised their price target on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Truist Financial lifted their target price on shares of PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 9,179 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $428,383.93. Following the transaction, the chief executive officer now owns 246,710 shares in the company, valued at approximately $11,513,955.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Reza Zadno sold 9,179 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total transaction of $428,383.93. Following the sale, the chief executive officer now owns 246,710 shares of the company’s stock, valued at $11,513,955.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alaleh Nouri sold 2,749 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $128,295.83. Following the transaction, the executive vice president now owns 62,913 shares of the company’s stock, valued at approximately $2,936,149.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,149 shares of company stock worth $4,653,720. 19.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of PROCEPT BioRobotics by 13.0% during the 3rd quarter. FMR LLC now owns 7,553,460 shares of the company’s stock valued at $247,829,000 after buying an additional 870,364 shares during the period. Vanguard Group Inc. boosted its stake in shares of PROCEPT BioRobotics by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock worth $175,376,000 after acquiring an additional 109,694 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of PROCEPT BioRobotics by 89.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock worth $44,144,000 after purchasing an additional 636,750 shares in the last quarter. Wellington Management Group LLP raised its holdings in PROCEPT BioRobotics by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock worth $44,663,000 after purchasing an additional 260,946 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in PROCEPT BioRobotics by 48.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 923,437 shares of the company’s stock valued at $30,298,000 after purchasing an additional 303,003 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Trading Up 14.4 %

NASDAQ PRCT opened at $60.61 on Friday. The stock’s 50-day simple moving average is $49.69 and its two-hundred day simple moving average is $43.24. PROCEPT BioRobotics has a twelve month low of $24.83 and a twelve month high of $63.26. The company has a quick ratio of 6.77, a current ratio of 7.63 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -27.06 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.10). The business had revenue of $43.58 million for the quarter, compared to the consensus estimate of $41.79 million. PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. The firm’s revenue was up 83.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.56) earnings per share. Research analysts forecast that PROCEPT BioRobotics will post -2 EPS for the current fiscal year.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).