Brokerages Set PROCEPT BioRobotics Co. (NASDAQ:PRCT) Target Price at $91.43

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $91.43.

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Morgan Stanley decreased their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th.

PROCEPT BioRobotics Stock Up 0.4 %

Shares of PRCT stock opened at $53.03 on Friday. The firm’s fifty day moving average price is $59.16 and its two-hundred day moving average price is $74.66. PROCEPT BioRobotics has a 1 year low of $47.04 and a 1 year high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.91 billion, a P/E ratio of -27.19 and a beta of 1.09.

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

Insider Buying and Selling at PROCEPT BioRobotics

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new stake in shares of PROCEPT BioRobotics in the third quarter valued at about $279,000. State Street Corp grew its position in shares of PROCEPT BioRobotics by 5.9% during the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock worth $94,503,000 after purchasing an additional 66,175 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of PROCEPT BioRobotics by 8.2% during the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock worth $88,678,000 after purchasing an additional 84,244 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $64,000. Finally, Franklin Resources Inc. boosted its stake in shares of PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after buying an additional 347,330 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

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).