PROCEPT BioRobotics (NASDAQ:PRCT) Issues Quarterly Earnings Results

PROCEPT BioRobotics (NASDAQ:PRCT) posted its quarterly earnings data on Wednesday. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.04, Briefing.com reports. The business had revenue of $44.50 million for the quarter, compared to the consensus estimate of $41.58 million. PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. The company’s revenue was up 82.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.63) earnings per share. PROCEPT BioRobotics updated its FY 2024 guidance to EPS.

PROCEPT BioRobotics Trading Up 2.5 %

PROCEPT BioRobotics stock traded up $1.52 during midday trading on Thursday, hitting $62.13. 719,693 shares of the stock were exchanged, compared to its average volume of 526,924. PROCEPT BioRobotics has a fifty-two week low of $24.83 and a fifty-two week high of $63.26. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -27.19 and a beta of 0.95. The stock’s 50-day simple moving average is $49.69 and its 200 day simple moving average is $43.24. The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 28,677 shares of PROCEPT BioRobotics stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $50.09, for a total transaction of $1,436,430.93. Following the completion of the sale, the chief financial officer now directly owns 33,523 shares in the company, valued at $1,679,167.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 28,677 shares of PROCEPT BioRobotics stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $50.09, for a total transaction of $1,436,430.93. Following the completion of the sale, the chief financial officer now directly owns 33,523 shares in the company, valued at $1,679,167.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alaleh Nouri sold 5,306 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $49.95, for a total transaction of $265,034.70. Following the sale, the executive vice president now owns 47,351 shares of the company’s stock, valued at $2,365,182.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,149 shares of company stock worth $4,653,720. Insiders own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PRCT. Wells Fargo & Company increased their price objective on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Truist Financial raised their price target on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $49.50.

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).