PROCEPT BioRobotics (NASDAQ:PRCT) Price Target Raised to $99.00

PROCEPT BioRobotics (NASDAQ:PRCT) had its target price raised by TD Cowen from $75.00 to $99.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the company. Truist Financial upped their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a buy rating in a research report on Tuesday, September 3rd. Bank of America increased their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a buy rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $78.17.

PROCEPT BioRobotics Stock Up 4.0 %

Shares of PRCT stock opened at $82.97 on Monday. The stock’s fifty day moving average price is $70.63 and its 200 day moving average price is $62.14. PROCEPT BioRobotics has a 1-year low of $24.83 and a 1-year high of $85.81. The company has a market cap of $4.31 billion, a price-to-earnings ratio of -39.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.02. The firm had revenue of $53.35 million during the quarter, compared to analyst estimates of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. PROCEPT BioRobotics’s revenue was up 61.2% on a year-over-year basis. During the same period last year, the firm posted ($0.56) EPS. On average, research analysts expect that PROCEPT BioRobotics will post -1.88 earnings per share for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 13,305 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the sale, the director now directly owns 317,518 shares of the company’s stock, valued at $24,248,849.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the company’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 completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $7,928,880.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the sale, the director now directly owns 317,518 shares in the company, valued at $24,248,849.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,892 shares of company stock worth $12,134,665. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of large investors have recently bought and sold shares of PRCT. Vanguard Group Inc. grew its holdings in PROCEPT BioRobotics by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after purchasing an additional 62,164 shares during the period. Wellington Management Group LLP grew its stake in PROCEPT BioRobotics by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after acquiring an additional 260,946 shares during the period. Bellevue Group AG increased its holdings 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 acquiring an additional 4,768 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised 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 worth $31,027,000 after acquiring an additional 51,305 shares during the period. Finally, Point72 Europe London LLP lifted its holdings in PROCEPT BioRobotics by 30.5% during the fourth quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock valued at $22,215,000 after purchasing an additional 123,800 shares in the last quarter. Institutional investors and hedge funds 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).