Analysts Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Price Target at $78.17

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have earned an average rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $78.17.

PRCT has been the subject of several research analyst reports. TD Cowen raised their price target on shares of 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 boosted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America increased their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Truist Financial boosted their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $79.53 on Tuesday. The business’s fifty day simple moving average is $72.35 and its 200 day simple moving average is $63.64. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics has a 12 month low of $24.83 and a 12 month high of $85.81. The firm has a market capitalization of $4.13 billion, a P/E ratio of -37.51 and a beta of 1.03.

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

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 13,305 shares of the 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 sale, the director now directly owns 317,518 shares in the company, valued at approximately $24,248,849.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00. Following the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the transaction, the director now directly owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,892 shares of company stock valued at $12,134,665. 17.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCT. Vanguard Group Inc. grew its position in 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 acquiring an additional 62,164 shares in the last quarter. Wellington Management Group LLP increased its position in shares of PROCEPT BioRobotics by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after purchasing an additional 260,946 shares during the last quarter. Bellevue Group AG lifted its position in PROCEPT BioRobotics by 0.5% in the 1st 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. grew its position in PROCEPT BioRobotics by 8.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock valued at $31,027,000 after acquiring an additional 51,305 shares during the last quarter. Finally, Point72 Europe London LLP raised its stake in shares of PROCEPT BioRobotics by 30.5% during the fourth quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock worth $22,215,000 after acquiring an additional 123,800 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).