PROCEPT BioRobotics (NASDAQ:PRCT) Trading 4% Higher – Should You Buy?

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) rose 4% on Tuesday . The stock traded as high as $63.70 and last traded at $63.34. Approximately 215,543 shares were traded during trading, a decline of 70% from the average daily volume of 727,428 shares. The stock had previously closed at $60.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PRCT shares. Truist Financial reaffirmed a “buy” rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Morgan Stanley dropped their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.29.

PROCEPT BioRobotics Stock Down 0.9 %

The firm has a fifty day moving average of $66.32 and a 200-day moving average of $78.15. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.39 billion, a P/E ratio of -31.67 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. On average, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at $9,875,374.20. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock valued at $368,322 over the last 90 days. 17.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of PROCEPT BioRobotics by 11.9% during the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after purchasing an additional 866,328 shares during the period. Vanguard Group Inc. increased its position in PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock worth $413,907,000 after buying an additional 297,075 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of PROCEPT BioRobotics by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock worth $141,110,000 after buying an additional 218,148 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after acquiring an additional 416,819 shares during the period. Finally, State Street Corp grew its stake in shares of PROCEPT BioRobotics by 5.9% in the third quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after acquiring an additional 66,175 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

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).