PROCEPT BioRobotics (NASDAQ:PRCT) Rating Lowered to “Sell” at Wall Street Zen

PROCEPT BioRobotics (NASDAQ:PRCT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

PRCT has been the subject of a number of other research reports. Wells Fargo & Company reduced their price target on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. TD Cowen dropped their price target 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 reissued a “neutral” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, September 16th. UBS Group began coverage on PROCEPT BioRobotics in a research note on Friday. They set a “buy” rating and a $62.00 price objective on the stock. Finally, Truist Financial cut their target price on PROCEPT BioRobotics from $64.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.70.

PROCEPT BioRobotics Stock Performance

PRCT stock opened at $36.10 on Friday. PROCEPT BioRobotics has a 1-year low of $27.80 and a 1-year high of $92.92. The business’s 50-day moving average price is $33.03 and its two-hundred day moving average price is $43.24. The firm has a market cap of $2.02 billion, a PE ratio of -23.59 and a beta of 0.99. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 28.20% and a negative return on equity of 21.72%. The firm’s revenue was up 42.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. As a group, research analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently made changes to their positions in PRCT. Alliancebernstein L.P. raised its holdings in PROCEPT BioRobotics by 58.6% in the 3rd quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock valued at $122,052,000 after buying an additional 1,262,928 shares during the last quarter. Chicago Capital LLC grew its stake in shares of PROCEPT BioRobotics by 175.7% in the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after purchasing an additional 999,873 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in PROCEPT BioRobotics by 113.5% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company’s stock worth $92,065,000 after buying an additional 849,792 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of PROCEPT BioRobotics by 229.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,128,288 shares of the company’s stock valued at $40,269,000 after buying an additional 786,094 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of PROCEPT BioRobotics by 105.2% in the third quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company’s stock valued at $51,909,000 after buying an additional 745,778 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

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).