PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $41.3636.

Several equities research analysts have commented on PRCT shares. Truist Financial dropped their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Robert W. Baird started coverage on PROCEPT BioRobotics in a report on Friday, March 6th. They issued a “neutral” rating and a $30.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Jefferies Financial Group downgraded PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th.

Insider Buying and Selling

In other news, EVP Alaleh Nouri sold 5,363 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $25.96, for a total transaction of $139,223.48. Following the transaction, the executive vice president directly owned 105,354 shares of the company’s stock, valued at $2,734,989.84. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 7,373 shares of company stock valued at $196,135 over the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in PROCEPT BioRobotics by 445.3% in the 1st quarter. Parallel Advisors LLC now owns 2,950 shares of the company’s stock worth $74,000 after buying an additional 2,409 shares in the last quarter. Essential Partners LLC increased its holdings in PROCEPT BioRobotics by 7,071.4% in the 1st quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after buying an additional 1,980 shares in the last quarter. Bank of America Corp DE increased its holdings in PROCEPT BioRobotics by 46.3% in the 1st quarter. Bank of America Corp DE now owns 630,689 shares of the company’s stock worth $15,774,000 after buying an additional 199,484 shares in the last quarter. Janus Henderson Group PLC increased its holdings in PROCEPT BioRobotics by 12.7% in the 1st quarter. Janus Henderson Group PLC now owns 384,246 shares of the company’s stock worth $9,610,000 after buying an additional 43,405 shares in the last quarter. Finally, Amundi increased its holdings in PROCEPT BioRobotics by 16.2% in the 1st quarter. Amundi now owns 23,394 shares of the company’s stock worth $585,000 after buying an additional 3,260 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Trading Down 4.8%

NASDAQ PRCT opened at $27.69 on Friday. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $25.83 and its 200 day moving average is $28.38. PROCEPT BioRobotics has a twelve month low of $19.35 and a twelve month high of $62.85. The firm has a market capitalization of $1.58 billion, a PE ratio of -15.21 and a beta of 0.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. During the same period last year, the firm posted ($0.45) earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year. Research analysts forecast that PROCEPT BioRobotics will post -1.53 earnings per share for the current fiscal year.

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.