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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $97.86.

Several brokerages recently commented on PRCT. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Morgan Stanley started coverage on PROCEPT BioRobotics in a report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price target on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th.

Insider Activity

In related news, Director Antal Rohit Desai sold 34,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the transaction, the director now directly owns 164,363 shares of the company’s stock, valued at $15,678,586.57. This represents a 17.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Reza Zadno sold 26,420 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total value of $2,584,668.60. Following the sale, the chief executive officer now owns 179,185 shares in the company, valued at approximately $17,529,668.55. The trade was a 12.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,355 shares of company stock worth $13,571,048. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Values First Advisors Inc. acquired a new stake in PROCEPT BioRobotics in the third quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter worth $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $64,000. Arcadia Investment Management Corp MI purchased a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at $64,000. Finally, Canton Hathaway LLC acquired a new position in PROCEPT BioRobotics during the third quarter worth about $66,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Down 1.7 %

PRCT opened at $71.25 on Tuesday. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -36.54 and a beta of 1.03. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $83.92 and its two-hundred day moving average price is $79.50. PROCEPT BioRobotics has a twelve month low of $45.20 and a twelve month high of $103.81.

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).