PROCEPT BioRobotics (NASDAQ:PRCT) Rating Reiterated by Piper Sandler

Piper Sandler restated their overweight rating on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $75.00 target price on the stock.

PRCT has been the subject of a number of other research reports. TD Cowen lifted their price objective 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 boosted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a buy rating in a research note on Thursday, August 22nd. Truist Financial boosted their target price on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a buy rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company boosted their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of Buy and a consensus target price of $78.17.

PROCEPT BioRobotics Stock Down 0.8 %

PRCT opened at $71.70 on Tuesday. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $85.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The company has a fifty day moving average of $74.37 and a two-hundred day moving average of $65.42. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -33.82 and a beta of 1.03.

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

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics 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 in the company, valued at $7,928,880.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Antal Rohit Desai sold 13,305 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the transaction, the director now directly owns 317,518 shares in the company, valued at approximately $24,248,849.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 owns 96,096 shares in the company, valued at approximately $7,928,880.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 154,892 shares of company stock worth $12,134,665 in the last ninety days. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several large investors have recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC purchased a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $36,000. Quest Partners LLC increased its stake in PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares during the period. Fairman Group LLC purchased a new stake in PROCEPT BioRobotics during the 4th quarter worth approximately $84,000. Canada Pension Plan Investment Board purchased a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $128,000. Finally, RiverPark Advisors LLC purchased a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $135,000. 89.46% of the stock is currently 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).