PROCEPT BioRobotics (NASDAQ:PRCT) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research note published on Thursday, Marketbeat reports. The brokerage issued a hold rating and a $95.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. TD Cowen increased their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America boosted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

PROCEPT BioRobotics Trading Up 3.5 %

Shares of PROCEPT BioRobotics stock opened at $88.94 on Thursday. PROCEPT BioRobotics has a 52-week low of $31.57 and a 52-week high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business’s 50 day simple moving average is $80.97 and its 200 day simple moving average is $71.45.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same period last year, the company earned ($0.51) earnings per share. The firm’s revenue was up 66.4% compared to the same quarter last year. On average, equities research analysts forecast that PROCEPT BioRobotics will post -1.74 EPS for the current fiscal year.

Insider Activity

In related 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 transaction, the chief financial officer now owns 96,096 shares in the company, valued at approximately $7,928,880.96. This represents a 20.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 52.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 535,353 shares of company stock valued at $46,627,426 over the last three months. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently made changes to their positions in the company. M&G Plc bought a new stake in PROCEPT BioRobotics in the 2nd quarter valued at $8,507,000. Federated Hermes Inc. boosted its position in shares of PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after acquiring an additional 162,785 shares during the period. Nicholas Investment Partners LP acquired a new position in shares of PROCEPT BioRobotics in the second quarter valued at about $4,657,000. Vanguard Group Inc. increased its position in PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after acquiring an additional 62,164 shares during the period. Finally, ProShare Advisors LLC raised its stake in PROCEPT BioRobotics by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock worth $358,000 after purchasing an additional 570 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).