What is Leerink Partnrs’ Forecast for PRCT FY2024 Earnings?

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Equities research analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for shares of PROCEPT BioRobotics in a report released on Monday, October 28th. Leerink Partnrs analyst M. Kratky now anticipates that the company will earn ($1.76) per share for the year, up from their prior estimate of ($1.89). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.88) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.35) EPS, Q4 2025 earnings at ($0.21) EPS, FY2025 earnings at ($1.25) EPS and FY2026 earnings at ($0.76) EPS.

Other equities analysts have also recently issued research reports about the stock. Bank of America raised their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday. TD Cowen raised their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $88.40.

PROCEPT BioRobotics Stock Down 3.8 %

PROCEPT BioRobotics stock opened at $93.03 on Thursday. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -47.71 and a beta of 1.03. The firm’s fifty day moving average price is $77.01 and its two-hundred day moving average price is $67.73. PROCEPT BioRobotics has a 1-year low of $24.91 and a 1-year high of $99.34. 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 (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The company had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. PROCEPT BioRobotics’s revenue for the quarter was up 66.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.51) earnings per share.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at $7,928,880.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the completion of the sale, the director now directly owns 197,453 shares in the company, valued at $15,817,959.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,892 shares of company stock worth $13,946,415 in the last quarter. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently added to or reduced their stakes in PRCT. Vanguard Group Inc. grew its stake in PROCEPT BioRobotics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock valued at $175,376,000 after buying an additional 109,694 shares in the last quarter. M&G Plc bought a new position in PROCEPT BioRobotics in the 2nd quarter worth about $8,507,000. Federated Hermes Inc. boosted its stake in PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after purchasing an additional 162,785 shares during the period. Nicholas Investment Partners LP purchased a new position in PROCEPT BioRobotics during the 2nd quarter valued at about $4,657,000. Finally, ProShare Advisors LLC grew its position in PROCEPT BioRobotics by 8.5% in the first quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock worth $358,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).