PROCEPT BioRobotics (NASDAQ:PRCT) Receives “Buy” Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research report report published on Wednesday, Benzinga reports. Truist Financial currently has a $105.00 price objective on the stock, up from their prior price objective of $95.00.

PRCT has been the topic of a number of other reports. TD Cowen boosted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Piper Sandler reiterated an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, Bank of America raised their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics has an average rating of “Buy” and an average price target of $88.40.

PROCEPT BioRobotics Trading Down 3.8 %

Shares of PRCT stock opened at $93.03 on Wednesday. PROCEPT BioRobotics has a 1-year low of $24.91 and a 1-year high of $99.34. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of -47.71 and a beta of 1.03. The stock has a 50-day moving average of $77.01 and a 200-day moving average of $67.73.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same quarter last year, the business earned ($0.51) EPS. The company’s revenue was up 66.4% compared to the same quarter last year. On average, equities research analysts forecast that PROCEPT BioRobotics will post -1.88 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00. Following the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $7,928,880.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 35,220 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now owns 23,963 shares of the company’s stock, valued at $1,824,063.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,892 shares of company stock valued at $13,946,415. 17.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds have recently modified their holdings of the company. Blair William & Co. IL bought a new stake in PROCEPT BioRobotics during the first quarter worth $21,240,000. Chicago Capital LLC purchased a new position in shares of PROCEPT BioRobotics in the 2nd quarter worth about $14,233,000. Federated Hermes Inc. grew its position in PROCEPT BioRobotics by 788.9% during the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after buying an additional 162,785 shares during the period. Transatlantique Private Wealth LLC purchased a new stake in PROCEPT BioRobotics during the second quarter worth about $9,164,000. Finally, M&G Plc purchased a new position in PROCEPT BioRobotics in the second quarter valued at about $8,507,000. Institutional investors own 89.46% of the company’s stock.

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).