Jefferies Financial Group Begins Coverage on PROCEPT BioRobotics (NASDAQ:PRCT)

Stock analysts at Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research report issued on Thursday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $95.00 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 2.98% from the stock’s current price.

PRCT has been the topic of several other reports. 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. TD Cowen upped their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Bank of America upped their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.50.

PROCEPT BioRobotics Trading Down 3.5 %

PRCT opened at $92.25 on Thursday. The business has a fifty day moving average price of $80.53 and a 200 day moving average price of $70.96. 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 stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -47.31 and a beta of 1.01. PROCEPT BioRobotics has a 12 month low of $31.57 and a 12 month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. PROCEPT BioRobotics’s revenue for the quarter was up 66.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.51) earnings per share. Sell-side analysts expect that PROCEPT BioRobotics will post -1.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock in a transaction dated 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 completion of the sale, the director now owns 23,963 shares in the company, valued at $1,824,063.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Antal Rohit Desai sold 35,220 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the completion of the sale, the director now directly owns 23,963 shares of the company’s stock, valued at $1,824,063.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Reza Zadno sold 288,461 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the transaction, the chief executive officer now directly owns 258,445 shares in the company, valued at $23,518,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 535,353 shares of company stock worth $46,627,426. 17.40% of the stock is owned by insiders.

Institutional Trading of PROCEPT BioRobotics

A number of institutional investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics during the third quarter worth $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in PROCEPT BioRobotics in the 2nd quarter worth $36,000. Quest Partners LLC lifted its holdings in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares in the last quarter. Canton Hathaway LLC purchased a new position in PROCEPT BioRobotics in the 3rd quarter valued at about $66,000. Finally, Nisa Investment Advisors LLC increased its position in shares of PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after acquiring an additional 713 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).