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

PROCEPT BioRobotics (NASDAQ:PRCT)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a report released on Wednesday,Benzinga reports. They presently have a $90.00 target price on the stock, down from their previous target price of $105.00. Truist Financial’s price objective would suggest a potential upside of 38.42% from the stock’s current price.

A number of other research firms have also commented on PRCT. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective on the stock. Wells Fargo & Company restated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Finally, Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and an average target price of $94.29.

PROCEPT BioRobotics Trading Down 4.5 %

PROCEPT BioRobotics stock opened at $65.02 on Wednesday. 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 business’s 50-day simple moving average is $75.25 and its 200-day simple moving average is $79.94. The firm has a market capitalization of $3.39 billion, a PE ratio of -33.34 and a beta of 1.03. PROCEPT BioRobotics has a 52 week low of $45.20 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The business had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. Equities research analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the sale, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reza Zadno sold 26,423 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total value of $2,568,844.06. Following the sale, the chief executive officer now directly owns 152,762 shares in the company, valued at $14,851,521.64. The trade was a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently added to or reduced their stakes in PRCT. Raleigh Capital Management Inc. acquired a new stake in PROCEPT BioRobotics during the fourth quarter valued at approximately $32,000. Thematics Asset Management acquired a new position in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $46,000. Signaturefd LLC boosted its holdings in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after acquiring an additional 145 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $58,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $64,000. 89.46% of the stock is 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).