PROCEPT BioRobotics (NASDAQ:PRCT) Sets New 1-Year High – What’s Next?

PROCEPT BioRobotics Co. (NASDAQ:PRCT)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $99.35 and last traded at $99.07, with a volume of 741263 shares traded. The stock had previously closed at $96.23.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Bank of America lifted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Finally, TD Cowen lifted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $88.40.

PROCEPT BioRobotics Stock Up 3.0 %

The business has a fifty day moving average price of $79.43 and a two-hundred day moving average price of $70.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The firm has a market cap of $5.17 billion, a PE ratio of -50.80 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The business’s quarterly revenue was up 66.4% compared to the same quarter last year. On average, analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Antal Rohit Desai sold 33,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $96.60, for a total transaction of $3,187,800.00. Following the completion of the sale, the director now owns 231,363 shares in the company, valued at approximately $22,349,665.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 535,353 shares of company stock worth $46,627,426 over the last 90 days. 17.40% of the stock is currently owned by corporate insiders.

Institutional Trading of PROCEPT BioRobotics

Large investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC lifted its position in shares of PROCEPT BioRobotics by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company’s stock worth $6,489,000 after purchasing an additional 228 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth about $27,000. Arizona State Retirement System lifted its position in shares of PROCEPT BioRobotics by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock worth $784,000 after purchasing an additional 350 shares during the last quarter. KBC Group NV lifted its position in shares of PROCEPT BioRobotics by 32.6% during the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $123,000 after purchasing an additional 376 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after purchasing an additional 408 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

About PROCEPT BioRobotics

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).