Brokerages Set PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Target Price at $53.40

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $53.40.

Several brokerages recently commented on PRCT. Wall Street Zen raised shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Bank of America reaffirmed a “neutral” rating and issued a $38.00 target price (down previously from $55.00) on shares of PROCEPT BioRobotics in a research report on Monday, December 8th. Leerink Partners reissued an “outperform” rating and set a $55.00 price target on shares of PROCEPT BioRobotics in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group upgraded PROCEPT BioRobotics from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT opened at $30.38 on Tuesday. The company has a quick ratio of 7.20, a current ratio of 8.44 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is $32.23 and its two-hundred day moving average price is $38.73. The company has a market cap of $1.70 billion, a PE ratio of -19.86 and a beta of 0.99. PROCEPT BioRobotics has a twelve month low of $27.80 and a twelve month high of $79.26.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, November 4th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.03. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The company had revenue of $83.33 million during the quarter, compared to the consensus estimate of $80.78 million. During the same period in the previous year, the company posted ($0.40) EPS. The firm’s revenue for the quarter was up 42.6% compared to the same quarter last year. On average, analysts predict that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its holdings in shares of PROCEPT BioRobotics by 7.3% during the first quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock worth $1,101,000 after purchasing an additional 1,286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PROCEPT BioRobotics by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock worth $8,923,000 after acquiring an additional 13,767 shares during the period. Intech Investment Management LLC increased its stake in PROCEPT BioRobotics by 54.4% during the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock worth $1,654,000 after acquiring an additional 10,002 shares during the period. Rhumbline Advisers raised its holdings in PROCEPT BioRobotics by 5.0% in the 1st quarter. Rhumbline Advisers now owns 64,373 shares of the company’s stock valued at $3,750,000 after acquiring an additional 3,077 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of PROCEPT BioRobotics during the 2nd quarter valued at $2,413,000. Institutional investors and hedge funds 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.