PROCEPT BioRobotics Co. (NASDAQ:PRCT) Receives Consensus Rating of “Buy” from Analysts

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have received a consensus rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $74.17.

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company upped their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Bank of America lifted their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd.

PROCEPT BioRobotics Trading Up 0.4 %

NASDAQ:PRCT opened at $76.35 on Friday. The firm has a fifty day simple moving average of $67.80 and a two-hundred day simple moving average of $60.17. PROCEPT BioRobotics has a 12 month low of $24.83 and a 12 month high of $85.81. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of -36.01 and a beta of 1.03. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The company had revenue of $53.35 million during the quarter, compared to the consensus estimate of $50.10 million. During the same period last year, the business posted ($0.56) EPS. The firm’s revenue for the quarter was up 61.2% compared to the same quarter last year. Analysts expect that PROCEPT BioRobotics will post -1.88 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 35,220 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the completion of the sale, the director now owns 23,963 shares in the company, valued at approximately $1,824,063.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Alaleh Nouri sold 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $62.18, for a total transaction of $621,800.00. Following the completion of the sale, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $3,262,708.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now owns 23,963 shares in the company, valued at $1,824,063.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,571 shares of company stock worth $6,096,228. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently made changes to their positions in PRCT. Creative Planning purchased a new position in shares of PROCEPT BioRobotics in the 2nd quarter worth about $322,000. Algert Global LLC purchased a new position in PROCEPT BioRobotics in the second quarter valued at about $1,651,000. Driehaus Capital Management LLC grew its position in shares of PROCEPT BioRobotics by 25.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock valued at $21,344,000 after acquiring an additional 71,930 shares during the period. Lighthouse Investment Partners LLC grew its position in shares of PROCEPT BioRobotics by 144.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 64,313 shares of the company’s stock valued at $3,929,000 after acquiring an additional 38,013 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $515,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

About PROCEPT BioRobotics

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).