PROCEPT BioRobotics (NASDAQ:PRCT) Posts Earnings Results, Misses Estimates By $0.01 EPS

PROCEPT BioRobotics (NASDAQ:PRCT) released its earnings results on Tuesday. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01), Zacks reports. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $68.24 million for the quarter, compared to analysts’ expectations of $66.79 million.

PROCEPT BioRobotics Stock Performance

PRCT stock opened at $62.71 on Wednesday. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -32.16 and a beta of 1.03. PROCEPT BioRobotics has a twelve month low of $45.20 and a twelve month high of $103.81. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $75.53 and its two-hundred day simple moving average is $80.02.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 26,423 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total value of $2,568,844.06. Following the transaction, the chief executive officer now owns 152,762 shares in the company, valued at $14,851,521.64. The trade was a 14.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the sale, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

PRCT has been the subject of a number of research analyst reports. Morgan Stanley assumed coverage on shares of PROCEPT BioRobotics in a report on Monday, December 2nd. They set an “overweight” rating and a $105.00 price objective for the company. Truist Financial reiterated a “buy” rating and issued a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price on the stock. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.71.

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).