PROCEPT BioRobotics (NASDAQ:PRCT) Trading 9.9% Higher – Should You Buy?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) shot up 9.9% during trading on Monday . The stock traded as high as $25.79 and last traded at $24.9320. 2,889,400 shares were traded during mid-day trading, an increase of 88% from the average session volume of 1,535,660 shares. The stock had previously closed at $22.69.

Analyst Ratings Changes

Several brokerages recently weighed in on PRCT. Piper Sandler cut their price objective on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen lowered shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company cut their price target on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Truist Financial decreased their price objective on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Finally, Bank of America downgraded shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $38.00 to $20.00 in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.90.

PROCEPT BioRobotics Stock Up 1.1%

The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -15.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The business’s 50 day moving average is $29.70 and its 200-day moving average is $33.24.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). The firm had revenue of $76.38 million for the quarter, compared to the consensus estimate of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) earnings per share. Equities analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its position in shares of PROCEPT BioRobotics by 7.3% in the first quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock valued at $1,101,000 after acquiring an additional 1,286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in PROCEPT BioRobotics by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after purchasing an additional 13,767 shares during the last quarter. Intech Investment Management LLC boosted its holdings in PROCEPT BioRobotics by 54.4% in the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock valued at $1,654,000 after purchasing an additional 10,002 shares during the period. CWM LLC grew its position in PROCEPT BioRobotics by 40.7% in the 2nd quarter. CWM LLC now owns 1,228 shares of the company’s stock worth $71,000 after purchasing an additional 355 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of PROCEPT BioRobotics by 1,262.5% during the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after purchasing an additional 1,010 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.