PROCEPT BioRobotics (NASDAQ:PRCT) Trading Up 7.2% – Time to Buy?

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) was up 7.2% during mid-day trading on Wednesday . The stock traded as high as $26.10 and last traded at $25.91. Approximately 1,150,046 shares changed hands during trading, a decline of 30% from the average daily volume of 1,645,646 shares. The stock had previously closed at $24.17.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PRCT shares. Wall Street Zen lowered shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Thursday, January 22nd. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Jefferies Financial Group lowered PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Leerink Partners lowered their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.82.

PROCEPT BioRobotics Stock Performance

The firm’s 50 day simple moving average is $28.96 and its 200 day simple moving average is $32.71. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -15.52 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.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its 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). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The business had revenue of $76.38 million for the quarter, compared to analyst estimates of $93.70 million. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In other PROCEPT BioRobotics news, EVP Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $159,287.70. Following the transaction, the executive vice president directly owned 152,264 shares in the company, valued at approximately $3,608,656.80. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai purchased 167,246 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average cost of $25.58 per share, for a total transaction of $4,278,152.68. Following the acquisition, the director owned 167,246 shares of the company’s stock, valued at approximately $4,278,152.68. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 426,262 shares of company stock worth $10,483,091. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC lifted its stake in PROCEPT BioRobotics by 1.3% during the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock valued at $1,158,000 after purchasing an additional 250 shares during the last quarter. Vega Investment Solutions lifted its holdings in shares of PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after purchasing an additional 265 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of PROCEPT BioRobotics by 0.3% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock valued at $4,368,000 after purchasing an additional 307 shares during the period. RiverPark Advisors LLC increased its stake in PROCEPT BioRobotics by 22.5% in the 2nd quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock worth $101,000 after purchasing an additional 324 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in PROCEPT BioRobotics by 20.3% during the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after buying an additional 337 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

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.