PROCEPT BioRobotics (NASDAQ:PRCT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PROCEPT BioRobotics (NASDAQ:PRCT) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Several other analysts have also issued reports on PRCT. UBS Group upped their target price on PROCEPT BioRobotics from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Oppenheimer reiterated a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Wednesday, September 9th. Robert W. Baird set a $20.00 price target on shares of PROCEPT BioRobotics in a research note on Wednesday, August 5th. Jefferies Financial Group restated a “hold” rating and issued a $20.00 price objective on shares of PROCEPT BioRobotics in a report on Wednesday, August 5th. Finally, TD Cowen lowered their price objective on shares of PROCEPT BioRobotics from $34.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, PROCEPT BioRobotics has an average rating of “Hold” and a consensus target price of $25.25.

PROCEPT BioRobotics Stock Up 8.5%

Shares of NASDAQ:PRCT opened at $22.37 on Friday. PROCEPT BioRobotics has a 52-week low of $16.67 and a 52-week high of $38.11. The firm has a fifty day moving average of $19.35 and a 200 day moving average of $23.09. The company has a current ratio of 6.55, a quick ratio of 5.35 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, November 4th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). PROCEPT BioRobotics had a negative net margin of 32.60% and a negative return on equity of 32.71%. The firm had revenue of $98.29 million during the quarter, compared to the consensus estimate of $100.52 million. During the same period in the prior year, the company earned ($0.38) EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. Sell-side analysts forecast that PROCEPT BioRobotics will post -1.72 EPS for the current fiscal year.

Insider Activity

In other news, insider Pooja Sharma sold 4,710 shares of PROCEPT BioRobotics stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $19.71, for a total value of $92,834.10. Following the transaction, the insider owned 106,471 shares in the company, valued at approximately $2,098,543.41. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,753 shares of company stock worth $114,685 over the last quarter. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its stake in PROCEPT BioRobotics by 994.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock worth $27,000 after purchasing an additional 1,084 shares during the period. Nykredit A S purchased a new stake in shares of PROCEPT BioRobotics during the second quarter valued at approximately $27,000. Sterling Capital Management LLC grew its holdings in shares of PROCEPT BioRobotics by 849.2% in the third quarter. Sterling Capital Management LLC now owns 1,870 shares of the company’s stock worth $34,000 after purchasing an additional 1,673 shares during the last quarter. Signaturefd LLC grew its holdings in shares of PROCEPT BioRobotics by 162.7% in the third quarter. Signaturefd LLC now owns 1,899 shares of the company’s stock worth $35,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Essential Partners LLC grew its holdings in shares of PROCEPT BioRobotics by 7,071.4% in the first quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after purchasing an additional 1,980 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms. The company’s technology is designed to provide a minimally invasive alternative to conventional surgical procedures.

Its primary product is the AquaBeam Robotic System, which uses image guidance, robotic assistance and a high-velocity waterjet to remove targeted prostate tissue.