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

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCTGet Rating) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $43.50.

PRCT has been the subject of a number of recent analyst reports. B. Riley initiated coverage on shares of PROCEPT BioRobotics in a report on Thursday, June 23rd. They set a “buy” rating and a $53.00 price target for the company. Wells Fargo & Company initiated coverage on shares of PROCEPT BioRobotics in a report on Friday, September 2nd. They set an “overweight” rating and a $49.00 price target for the company. Finally, KeyCorp initiated coverage on shares of PROCEPT BioRobotics in a report on Friday, July 15th. They set an “overweight” rating and a $47.00 price target for the company.

Insider Activity at PROCEPT BioRobotics

In related news, Director Thomas M. Krummel sold 20,000 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $35.98, for a total value of $719,600.00. Following the completion of the sale, the director now owns 82,920 shares in the company, valued at $2,983,461.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 40.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in PROCEPT BioRobotics by 18.2% in the first quarter. JPMorgan Chase & Co. now owns 5,353 shares of the company’s stock worth $188,000 after purchasing an additional 825 shares in the last quarter. Amalgamated Bank acquired a new position in PROCEPT BioRobotics in the first quarter worth about $39,000. US Bancorp DE acquired a new position in PROCEPT BioRobotics in the second quarter worth about $37,000. Charles Schwab Investment Management Inc. raised its position in PROCEPT BioRobotics by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 51,391 shares of the company’s stock worth $1,799,000 after purchasing an additional 1,206 shares in the last quarter. Finally, UBS Group AG raised its position in 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 purchasing an additional 1,837 shares in the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.

PROCEPT BioRobotics Trading Down 6.3 %

Shares of NASDAQ:PRCT opened at $41.78 on Friday. The stock has a market capitalization of $1.86 billion and a PE ratio of -16.98. PROCEPT BioRobotics has a 1 year low of $15.38 and a 1 year high of $52.40. The firm has a fifty day moving average price of $40.58 and a 200 day moving average price of $36.75. The company has a current ratio of 16.01, a quick ratio of 15.27 and a debt-to-equity ratio of 0.22.

PROCEPT BioRobotics (NASDAQ:PRCTGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.06. PROCEPT BioRobotics had a negative net margin of 138.49% and a negative return on equity of 26.41%. Analysts expect that PROCEPT BioRobotics will post -1.83 EPS for the current fiscal year.

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).

Further Reading

Analyst Recommendations for PROCEPT BioRobotics (NASDAQ:PRCT)

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