PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives $61.20 Average Price Target from Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been given a consensus recommendation of “Buy” by the six analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have covered the stock in the last year is $61.20.

A number of research analysts recently issued reports on the company. Truist Financial boosted their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Piper Sandler boosted their target price on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Finally, TD Cowen upped their target price on PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 6th.

Insider Transactions at PROCEPT BioRobotics

In related news, Director Thomas M. Krummel sold 20,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the sale, the director now directly owns 45,631 shares in the company, valued at $2,737,860. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 30,432 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the completion of the transaction, the executive vice president now owns 62,472 shares of the company’s stock, valued at $3,933,861.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas M. Krummel sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. Following the completion of the sale, the director now directly owns 45,631 shares in the company, valued at $2,737,860. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,478 shares of company stock valued at $5,515,482. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairman Group LLC purchased a new position in PROCEPT BioRobotics in the fourth quarter worth about $84,000. Blue Trust Inc. increased its position in shares of PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after acquiring an additional 620 shares in the last quarter. Glass Jacobson Investment Advisors llc purchased a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $138,000. Jump Financial LLC bought a new position in PROCEPT BioRobotics in the 4th quarter valued at approximately $201,000. Finally, Contravisory Investment Management Inc. purchased a new stake in PROCEPT BioRobotics during the 2nd quarter valued at $311,000. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Down 3.6 %

Shares of PROCEPT BioRobotics stock opened at $66.84 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.44 and a current ratio of 8.52. PROCEPT BioRobotics has a 52-week low of $24.83 and a 52-week high of $77.00. The company’s 50 day moving average price is $64.63 and its 200-day moving average price is $54.41. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -31.53 and a beta of 1.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. The business had revenue of $44.50 million for the quarter, compared to analyst estimates of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company’s revenue was up 82.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.63) EPS. Equities research analysts forecast that PROCEPT BioRobotics will post -1.93 EPS for the current year.

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).