Brokerages Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Target Price at $61.20

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has received an average recommendation of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $61.20.

A number of research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. TD Cowen boosted their price target on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Truist Financial boosted their price target on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Thomas M. Krummel sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. Following the completion of the sale, the director now directly owns 45,631 shares of the company’s stock, valued at $2,737,860. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Reza Zadno sold 9,179 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total transaction of $428,383.93. Following the transaction, the chief executive officer now owns 246,710 shares in the company, valued at $11,513,955.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas M. Krummel sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the transaction, the director now owns 45,631 shares in the company, valued at approximately $2,737,860. The disclosure for this sale can be found here. Insiders sold 72,651 shares of company stock valued at $4,168,073 over the last three months. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCT. Bank of New York Mellon Corp grew its holdings in PROCEPT BioRobotics by 5.8% in the third quarter. Bank of New York Mellon Corp now owns 128,732 shares of the company’s stock worth $4,224,000 after purchasing an additional 7,035 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PROCEPT BioRobotics by 23.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,721 shares of the company’s stock worth $286,000 after buying an additional 1,684 shares in the last quarter. M&T Bank Corp bought a new position in shares of PROCEPT BioRobotics in the third quarter worth approximately $293,000. Victory Capital Management Inc. boosted its holdings in PROCEPT BioRobotics by 2.4% in the third quarter. Victory Capital Management Inc. now owns 300,971 shares of the company’s stock worth $9,875,000 after purchasing an additional 6,980 shares during the last quarter. Finally, Barclays PLC boosted its holdings in PROCEPT BioRobotics by 225.3% in the third quarter. Barclays PLC now owns 51,613 shares of the company’s stock worth $1,692,000 after purchasing an additional 35,746 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Up 0.3 %

PROCEPT BioRobotics stock opened at $66.90 on Wednesday. PROCEPT BioRobotics has a 1-year low of $24.83 and a 1-year high of $77.00. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -31.56 and a beta of 0.95. The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $55.33 and a 200 day simple moving average of $47.49.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. The business had revenue of $44.50 million during the quarter, compared to analyst estimates of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. PROCEPT BioRobotics’s revenue was up 82.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.63) EPS. On average, analysts predict that PROCEPT BioRobotics will post -1.93 earnings per share for the current year.

PROCEPT BioRobotics Company Profile

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).