Brokerages Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Price Target at $97.86

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $97.86.

PRCT has been the topic of a number of recent analyst reports. Morgan Stanley started coverage on PROCEPT BioRobotics in a report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price objective on the stock. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price target for the company. Bank of America lifted their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $90.61 on Monday. PROCEPT BioRobotics has a twelve month low of $38.01 and a twelve month high of $103.81. The company has a market cap of $4.73 billion, a P/E ratio of -46.47 and a beta of 1.00. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $86.40 and its 200-day moving average price is $75.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the previous year, the firm posted ($0.51) EPS. The business’s revenue for the quarter was up 66.4% compared to the same quarter last year. On average, sell-side analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 34,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $95.39, for a total value of $3,243,260.00. Following the completion of the transaction, the director now directly owns 164,363 shares of the company’s stock, valued at $15,678,586.57. This trade represents a 17.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Reza Zadno sold 26,423 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the completion of the sale, the chief executive officer now directly owns 152,762 shares in the company, valued at $14,851,521.64. This trade represents a 14.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 512,816 shares of company stock valued at $46,883,299 in the last ninety days. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. M&G Plc acquired a new position in shares of PROCEPT BioRobotics in the second quarter worth $8,507,000. KRS Capital Management LLC acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth about $2,817,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of PROCEPT BioRobotics during the second quarter worth about $284,000. RiverPark Advisors LLC purchased a new position in shares of PROCEPT BioRobotics during the second quarter valued at approximately $135,000. Finally, Legato Capital Management LLC boosted its position in PROCEPT BioRobotics by 23.1% during the second quarter. Legato Capital Management LLC now owns 51,670 shares of the company’s stock worth $3,157,000 after acquiring an additional 9,701 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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).