PROCEPT BioRobotics (NASDAQ:PRCT) Trading 3.8% Higher – Still a Buy?

PROCEPT BioRobotics Co. (NASDAQ:PRCT) shares were up 3.8% during mid-day trading on Friday . The company traded as high as $89.50 and last traded at $89.14. Approximately 247,278 shares changed hands during trading, a decline of 63% from the average daily volume of 660,249 shares. The stock had previously closed at $85.91.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PRCT shares. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research note on Thursday. They set a “hold” rating and a $95.00 price target on the stock. TD Cowen boosted their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Bank of America increased their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company lifted their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial restated a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

PROCEPT BioRobotics Price Performance

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 stock’s 50-day moving average is $80.53 and its 200 day moving average is $70.96.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company’s revenue for the quarter was up 66.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.51) earnings per share. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Antal Rohit Desai sold 34,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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 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 sale, the chief executive officer now directly owns 258,445 shares in the company, valued at approximately $23,518,495. This trade represents a 52.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,353 shares of company stock valued at $46,627,426 over the last quarter. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently bought and sold shares of the stock. Values First Advisors Inc. purchased a new stake in PROCEPT BioRobotics in the third quarter valued at $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter valued at approximately $36,000. Quest Partners LLC lifted its holdings in shares of PROCEPT BioRobotics by 2,492.3% in the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after purchasing an additional 648 shares in the last quarter. Canton Hathaway LLC purchased a new stake in PROCEPT BioRobotics in the 3rd quarter valued at approximately $66,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after acquiring an additional 713 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).