PROCEPT BioRobotics Co. (NASDAQ:PRCT) Given Consensus Recommendation of “Moderate Buy” by Analysts

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $97.86.

A number of brokerages have recently issued reports on PRCT. Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price target on the stock. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Finally, Truist Financial restated a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $62.25 on Friday. PROCEPT BioRobotics has a 52-week low of $45.20 and a 52-week high of $103.81. The stock’s 50-day simple moving average is $76.53 and its 200 day simple moving average is $79.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -31.92 and a beta of 1.03.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following the completion of the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total transaction of $2,584,668.60. Following the transaction, the chief executive officer now owns 179,185 shares in the company, valued at $17,529,668.55. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,935 shares of company stock valued at $7,882,089 over the last 90 days. 17.40% of the stock is owned by insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors have recently made changes to their positions in the business. Westfield Capital Management Co. LP bought a new stake in PROCEPT BioRobotics in the third quarter worth $72,563,000. FMR LLC lifted its stake in shares of PROCEPT BioRobotics by 11.9% in the 4th quarter. FMR LLC now owns 8,159,208 shares of the company’s stock valued at $656,979,000 after acquiring an additional 866,328 shares during the last quarter. Perpetual Ltd bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at about $66,972,000. Wellington Management Group LLP boosted its holdings in PROCEPT BioRobotics by 38.8% during the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after acquiring an additional 416,819 shares during the period. Finally, Franklin Resources Inc. grew its position in PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after acquiring an additional 347,330 shares during the last quarter. Hedge funds and other 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).