PROCEPT BioRobotics (NASDAQ:PRCT) Releases Earnings Results, Misses Expectations By $0.21 EPS

PROCEPT BioRobotics (NASDAQ:PRCT) posted its earnings results on Wednesday. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.21), FiscalAI reports. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The company had revenue of $76.38 million for the quarter, compared to analyst estimates of $93.70 million.

PROCEPT BioRobotics Price Performance

Shares of PRCT traded up $0.58 during mid-day trading on Wednesday, hitting $27.84. 2,418,789 shares of the company were exchanged, compared to its average volume of 1,214,609. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -18.20 and a beta of 0.99. PROCEPT BioRobotics has a 1-year low of $26.23 and a 1-year high of $70.80. The company has a 50 day moving average of $30.49 and a 200-day moving average of $33.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.20 and a current ratio of 8.44.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of PROCEPT BioRobotics by 436.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after acquiring an additional 746 shares during the last quarter. US Bancorp DE lifted its holdings in PROCEPT BioRobotics by 175.7% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in PROCEPT BioRobotics during the 4th quarter worth $68,000. Lazard Asset Management LLC boosted its stake in PROCEPT BioRobotics by 90.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock worth $98,000 after purchasing an additional 810 shares during the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of PROCEPT BioRobotics by 20.3% during the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock worth $115,000 after buying an additional 337 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRCT shares. UBS Group assumed coverage on shares of PROCEPT BioRobotics in a report on Friday, December 12th. They set a “buy” rating and a $62.00 target price for the company. Bank of America reaffirmed a “neutral” rating and issued a $38.00 price objective (down from $55.00) on shares of PROCEPT BioRobotics in a report on Monday, December 8th. Truist Financial lowered their target price on shares of PROCEPT BioRobotics from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Piper Sandler restated an “overweight” rating and issued a $50.00 price target (down from $55.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.40.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.