PROCEPT BioRobotics (NASDAQ:PRCT) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of PROCEPT BioRobotics (NASDAQ:PRCT) from a hold rating to a sell rating in a research report released on Sunday.

Several other research analysts have also recently issued reports on PRCT. Leerink Partners reaffirmed an “outperform” rating and issued a $55.00 target price on shares of PROCEPT BioRobotics in a report on Wednesday, November 5th. BTIG Research restated a “neutral” rating on shares of PROCEPT BioRobotics in a report on Tuesday, September 16th. Wells Fargo & Company lowered their price objective on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Oppenheimer raised PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a report on Tuesday, September 2nd. Finally, Truist Financial decreased their price target on PROCEPT BioRobotics from $64.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and a consensus price target of $53.70.

PROCEPT BioRobotics Trading Down 1.2%

PROCEPT BioRobotics stock opened at $35.66 on Friday. PROCEPT BioRobotics has a 12 month low of $27.80 and a 12 month high of $90.47. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -23.31 and a beta of 0.99. The business’s fifty day simple moving average is $33.05 and its two-hundred day simple moving average is $43.08. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.03. The firm had revenue of $83.33 million during the quarter, compared to the consensus estimate of $80.78 million. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The company’s revenue was up 42.6% on a year-over-year basis. During the same period last year, the company earned ($0.40) earnings per share. As a group, equities analysts predict that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank increased its position in PROCEPT BioRobotics by 2.6% during the first quarter. Swiss National Bank now owns 99,600 shares of the company’s stock valued at $5,803,000 after acquiring an additional 2,500 shares during the last quarter. Nuveen LLC bought a new position in shares of PROCEPT BioRobotics in the 1st quarter worth approximately $11,302,000. Russell Investments Group Ltd. lifted its stake in shares of PROCEPT BioRobotics by 124,755.6% in the 1st quarter. Russell Investments Group Ltd. now owns 44,948 shares of the company’s stock worth $2,619,000 after purchasing an additional 44,912 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in shares of PROCEPT BioRobotics in the first quarter worth approximately $2,145,000. Finally, Algert Global LLC grew its position in PROCEPT BioRobotics by 110.9% during the first quarter. Algert Global LLC now owns 50,288 shares of the company’s stock valued at $2,930,000 after buying an additional 26,440 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

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).