PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 7.5% – Should You Buy?

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) shot up 7.5% during trading on Wednesday . The stock traded as high as $31.82 and last traded at $31.75. 357,736 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,090,849 shares. The stock had previously closed at $29.53.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $50.00 price objective (down from $55.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. TD Cowen dropped their target price on shares of PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. BTIG Research restated a “neutral” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Wednesday, October 8th. Finally, Oppenheimer raised PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Tuesday, September 2nd. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.89.

PROCEPT BioRobotics Stock Up 1.2%

The stock has a market cap of $2.00 billion, a P/E ratio of -23.44 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.20 and a current ratio of 8.44. The firm’s 50-day moving average is $33.05 and its two-hundred day moving average is $44.53.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. The company had revenue of $83.33 million during the quarter, compared to the consensus estimate of $80.78 million. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The firm’s quarterly revenue was up 42.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.40) earnings per share. On average, equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC grew its holdings in shares of PROCEPT BioRobotics by 1.3% in the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock valued at $1,158,000 after acquiring an additional 250 shares in the last quarter. Vega Investment Solutions grew its stake in shares of PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after buying an additional 265 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in PROCEPT BioRobotics by 0.3% during the third quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock worth $4,368,000 after buying an additional 307 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of PROCEPT BioRobotics by 22.5% in the 2nd quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock valued at $101,000 after purchasing an additional 324 shares during the period. Finally, Osaic Holdings Inc. grew its holdings in PROCEPT BioRobotics by 20.3% during the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock worth $115,000 after purchasing an additional 337 shares during the period. 89.46% of the stock is owned by institutional investors.

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).