PROCEPT BioRobotics (NASDAQ:PRCT) Announces Earnings Results

PROCEPT BioRobotics (NASDAQ:PRCT) announced its quarterly earnings results on Wednesday. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04, Briefing.com reports. PROCEPT BioRobotics had a negative return on equity of 42.13% and a negative net margin of 66.12%. The business had revenue of $44.50 million during the quarter, compared to analysts’ expectations of $41.58 million. During the same quarter last year, the business posted ($0.63) earnings per share. The business’s revenue for the quarter was up 82.4% on a year-over-year basis. PROCEPT BioRobotics updated its FY 2024 guidance to EPS.

PROCEPT BioRobotics Trading Up 4.2 %

Shares of PRCT stock traded up $2.57 during trading hours on Friday, hitting $64.31. 1,143,117 shares of the company were exchanged, compared to its average volume of 664,889. PROCEPT BioRobotics has a 1 year low of $24.83 and a 1 year high of $64.89. The firm has a fifty day moving average of $50.25 and a 200 day moving average of $43.61. The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the completion of the sale, the chief financial officer now directly owns 33,523 shares in the company, valued at $1,676,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Alaleh Nouri sold 2,749 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 62,913 shares in the company, valued at $2,936,149.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Waters sold 904 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now owns 33,523 shares in the company, valued at approximately $1,676,150. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,581 shares of company stock valued at $6,570,023. Insiders own 19.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial lifted their price objective on PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $49.50.

About PROCEPT BioRobotics

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).