PROCEPT BioRobotics (NASDAQ:PRCT) Trading 4% Higher – Still a Buy?

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) traded up 4% on Tuesday . The company traded as high as $63.70 and last traded at $63.34. 215,543 shares were traded during trading, a decline of 70% from the average session volume of 727,428 shares. The stock had previously closed at $60.90.

Analyst Ratings Changes

Several brokerages recently commented on PRCT. Truist Financial reaffirmed a “buy” rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Wells Fargo & Company restated an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Finally, Morgan Stanley dropped their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and a consensus target price of $94.29.

PROCEPT BioRobotics Price Performance

The company has a market cap of $3.42 billion, a price-to-earnings ratio of -31.98 and a beta of 1.05. The stock has a 50 day simple moving average of $66.71 and a two-hundred day simple moving average of $78.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million during the quarter, compared to analysts’ expectations of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. On average, equities research analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 733 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock worth $368,322 over the last ninety days. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after buying an additional 145 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of PROCEPT BioRobotics by 1.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company’s stock worth $1,141,000 after buying an additional 150 shares during the period. Naviter Wealth LLC raised its holdings in PROCEPT BioRobotics by 6.0% in the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock valued at $249,000 after acquiring an additional 176 shares in the last quarter. Amundi lifted its stake in PROCEPT BioRobotics by 0.9% in the fourth quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after acquiring an additional 183 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock worth $1,150,000 after acquiring an additional 218 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).