PROCEPT BioRobotics (NASDAQ:PRCT) Price Target Raised to $95.00

PROCEPT BioRobotics (NASDAQ:PRCT) had its price target increased by Truist Financial from $74.00 to $95.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

PRCT has been the topic of several other reports. Piper Sandler lifted their target price on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an overweight rating in a research report on Monday, May 6th. Wells Fargo & Company raised 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. TD Cowen raised their price target on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a buy rating in a report on Monday, May 6th. Finally, Bank of America raised their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a buy rating in a report on Thursday, August 22nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $74.17.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock opened at $76.35 on Tuesday. The firm’s 50 day simple moving average is $67.80 and its 200-day simple moving average is $60.17. The company has a market cap of $3.96 billion, a P/E ratio of -36.01 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.02. The business had revenue of $53.35 million for the quarter, compared to the consensus estimate of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The firm’s quarterly revenue was up 61.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.56) earnings per share. As a group, equities research analysts predict that PROCEPT BioRobotics will post -1.88 EPS for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the sale, the director now directly owns 317,518 shares in the company, valued at $24,248,849.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 10,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $62.18, for a total value of $621,800.00. Following the completion of the sale, the executive vice president now directly owns 52,472 shares in the company, valued at $3,262,708.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares of the company’s stock, valued at $24,248,849.66. The disclosure for this sale can be found here. Insiders sold 84,571 shares of company stock worth $6,096,228 over the last ninety days. 17.40% of the stock is currently owned by insiders.

Institutional Trading of PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of PROCEPT BioRobotics by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after buying an additional 62,164 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of PROCEPT BioRobotics by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock worth $44,663,000 after buying an additional 260,946 shares during the last quarter. Bellevue Group AG lifted its stake in shares of PROCEPT BioRobotics by 0.5% in the first quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock worth $43,989,000 after buying an additional 4,768 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of PROCEPT BioRobotics by 8.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock worth $31,027,000 after buying an additional 51,305 shares during the last quarter. Finally, Point72 Europe London LLP lifted its stake in shares of PROCEPT BioRobotics by 30.5% in the fourth quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock worth $22,215,000 after buying an additional 123,800 shares during the last quarter. 89.46% of the stock is currently 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).