What is Leerink Partnrs’ Forecast for PRCT FY2024 Earnings?

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Equities research analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for shares of PROCEPT BioRobotics in a report issued on Monday, November 25th. Leerink Partnrs analyst M. Kratky now expects that the company will earn ($1.74) per share for the year, up from their previous estimate of ($1.76). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.74) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.33) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.27) EPS, Q4 2025 earnings at ($0.17) EPS, FY2025 earnings at ($1.06) EPS, FY2026 earnings at ($0.59) EPS and FY2027 earnings at ($0.30) EPS.

PRCT has been the subject of a number of other reports. Bank of America raised their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen raised their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Truist Financial restated 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

PROCEPT BioRobotics Stock Up 1.5 %

PROCEPT BioRobotics stock opened at $99.27 on Wednesday. The firm has a 50 day simple moving average of $82.73 and a 200 day simple moving average of $72.86. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics has a 1-year low of $33.45 and a 1-year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same quarter last year, the business earned ($0.51) earnings per share. The company’s quarterly revenue was up 66.4% on a year-over-year basis.

Insider Transactions at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. This represents a 20.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the transaction, the chief executive officer now owns 258,445 shares in the company, valued at approximately $23,518,495. The trade was a 52.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 561,773 shares of company stock valued at $49,073,125. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PRCT. Vanguard Group Inc. increased its stake in PROCEPT BioRobotics by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after purchasing an additional 62,164 shares during the period. State Street Corp raised its holdings in PROCEPT BioRobotics by 5.9% during the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after buying an additional 66,175 shares during the last quarter. Geode Capital Management LLC boosted its position in PROCEPT BioRobotics by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock valued at $88,678,000 after buying an additional 84,244 shares during the period. Westfield Capital Management Co. LP purchased a new stake in PROCEPT BioRobotics in the 3rd quarter worth approximately $72,563,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PROCEPT BioRobotics by 13.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company’s stock valued at $32,254,000 after buying an additional 46,665 shares during the period. 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).