PROCEPT BioRobotics (NASDAQ:PRCT) Trading Up 6.6% – Should You Buy?

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) traded up 6.6% on Friday . The stock traded as high as $26.56 and last traded at $26.7220. 592,017 shares were traded during trading, a decline of 63% from the average session volume of 1,608,519 shares. The stock had previously closed at $25.07.

Analysts Set New Price Targets

A number of research analysts have issued reports on PRCT shares. Bank of America cut PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $38.00 to $20.00 in a research report on Thursday, February 26th. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 27th. TD Cowen reduced their price target on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.82.

PROCEPT BioRobotics Stock Up 5.1%

The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -15.42 and a beta of 1.02. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $27.45 and a 200 day moving average price of $31.54.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The business had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. During the same quarter last year, the business earned ($0.35) EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Insider Activity

In other news, EVP Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $159,287.70. Following the transaction, the executive vice president owned 152,264 shares in the company, valued at approximately $3,608,656.80. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Antal Rohit Desai acquired 167,246 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average cost of $25.58 per share, for a total transaction of $4,278,152.68. Following the purchase, the director owned 167,246 shares of the company’s stock, valued at $4,278,152.68. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 426,262 shares of company stock valued at $10,483,091 and sold 23,229 shares valued at $573,466. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DNB Asset Management AS bought a new position in shares of PROCEPT BioRobotics during the third quarter worth about $1,132,000. Chicago Capital LLC boosted its holdings in PROCEPT BioRobotics by 175.7% in the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock valued at $55,992,000 after acquiring an additional 999,873 shares during the last quarter. C WorldWide Group Holding A S bought a new stake in PROCEPT BioRobotics in the third quarter valued at approximately $5,354,000. Granite Investment Partners LLC acquired a new stake in PROCEPT BioRobotics during the 2nd quarter valued at approximately $8,159,000. Finally, Peregrine Capital Management LLC acquired a new stake in PROCEPT BioRobotics during the 3rd quarter valued at approximately $6,718,000. 89.46% of the stock is owned by institutional investors and hedge funds.

About PROCEPT BioRobotics

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.