PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Down 4.9%

PROCEPT BioRobotics Co. (NASDAQ:PRCT – Get Rating)’s share price traded down 4.9% on Tuesday . The company traded as low as $34.62 and last traded at $35.47. 10,171 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 589,365 shares. The stock had previously closed at $37.29.

A number of analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of PROCEPT BioRobotics from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Guggenheim reduced their price objective on shares of PROCEPT BioRobotics from $55.00 to $40.00 in a research report on Wednesday, March 9th. Finally, SVB Leerink upped their target price on shares of PROCEPT BioRobotics from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

The company has a debt-to-equity ratio of 0.20, a quick ratio of 20.01 and a current ratio of 20.87. The stock’s 50 day moving average price is $37.19 and its 200-day moving average price is $29.74.

PROCEPT BioRobotics (NASDAQ:PRCT – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.08. The business had revenue of $14.20 million for the quarter, compared to the consensus estimate of $12.10 million. On average, analysts predict that PROCEPT BioRobotics Co. will post -1.86 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new stake in PROCEPT BioRobotics in the first quarter valued at approximately $1,950,000. Goldman Sachs Group Inc. acquired a new stake in PROCEPT BioRobotics in the first quarter valued at approximately $375,000. State Street Corp raised its holdings in shares of PROCEPT BioRobotics by 34.6% in the first quarter. State Street Corp now owns 114,162 shares of the company’s stock worth $3,995,000 after buying an additional 29,364 shares during the last quarter. UBS Group AG raised its holdings in shares of PROCEPT BioRobotics by 9.8% in the first quarter. UBS Group AG now owns 20,506 shares of the company’s stock worth $718,000 after buying an additional 1,837 shares during the last quarter. Finally, Bellevue Group AG raised its holdings in shares of PROCEPT BioRobotics by 64.7% in the first quarter. Bellevue Group AG now owns 286,075 shares of the company’s stock worth $10,010,000 after buying an additional 112,426 shares during the last quarter. Institutional investors own 65.72% of the company’s stock.

PROCEPT BioRobotics Company Profile (NASDAQ:PRCT)

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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