Brokerages Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Target Price at $91.43

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $91.43.

A number of research firms have recently weighed in on PRCT. Morgan Stanley reduced their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial cut their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, April 11th.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $53.03 on Friday. The firm’s 50 day simple moving average is $59.16 and its 200 day simple moving average is $74.66. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -27.19 and a beta of 1.09. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a 1 year low of $47.04 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. As a group, research analysts expect that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Waters sold 733 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock valued at $368,322 over the last 90 days. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. bought a new position in shares of PROCEPT BioRobotics in the 4th quarter worth about $32,000. Thematics Asset Management bought a new stake in PROCEPT BioRobotics in the fourth quarter worth approximately $46,000. Signaturefd LLC increased its holdings in PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares in the last quarter. IFP Advisors Inc acquired a new position in PROCEPT BioRobotics in the fourth quarter valued at approximately $58,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $64,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

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).