PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Average Recommendation of “Buy” by Brokerages

PROCEPT BioRobotics Co. (NASDAQ:PRCTGet Rating) has earned an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $39.80.

PRCT has been the topic of a number of recent analyst reports. Bank of America reduced their price objective on PROCEPT BioRobotics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, March 9th. SVB Leerink boosted their price objective on PROCEPT BioRobotics from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 9th. Zacks Investment Research lowered PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Guggenheim reduced their price objective on PROCEPT BioRobotics from $55.00 to $40.00 in a research note on Wednesday, March 9th.

Shares of PRCT stock opened at $39.56 on Friday. The stock’s fifty day simple moving average is $36.83 and its 200 day simple moving average is $29.72. The company has a quick ratio of 20.01, a current ratio of 20.87 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics has a one year low of $15.38 and a one year high of $47.73.

PROCEPT BioRobotics (NASDAQ:PRCTGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.08. The company had revenue of $14.20 million during the quarter, compared to analyst estimates of $12.10 million. Equities research analysts expect that PROCEPT BioRobotics will post -1.86 EPS for the current fiscal year.

In other news, major shareholder Global Investors Lp Viking sold 1,249,000 shares of the company’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $29.90, for a total transaction of $37,345,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRCT. CPMG Inc bought a new stake in PROCEPT BioRobotics in the third quarter valued at about $428,145,000. Viking Global Investors LP bought a new stake in PROCEPT BioRobotics in the third quarter valued at about $187,236,000. Perceptive Advisors LLC bought a new stake in PROCEPT BioRobotics in the third quarter valued at about $63,214,000. Johnson & Johnson bought a new stake in PROCEPT BioRobotics in the third quarter valued at about $38,855,000. Finally, BlackRock Inc. increased its holdings in PROCEPT BioRobotics by 1,506.5% in the fourth quarter. BlackRock Inc. now owns 321,305 shares of the company’s stock valued at $8,036,000 after purchasing an additional 301,305 shares during the last quarter. Institutional investors and hedge funds own 65.72% of the company’s stock.

PROCEPT BioRobotics Company Profile (Get Rating)

PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology. It 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).

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