PROCEPT BioRobotics’ (PRCT) “Neutral” Rating Reiterated at Bank of America

Bank of America reissued their neutral rating on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research note published on Monday morning, Marketbeat.com reports. The firm currently has a $38.00 price target on the stock, down from their previous price target of $55.00.

Several other research analysts also recently weighed in on the stock. TD Cowen dropped their target price on shares of PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Wednesday, October 8th. Wall Street Zen raised shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. 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 research report on Tuesday, September 2nd. Finally, BTIG Research reissued a “neutral” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, September 16th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PROCEPT BioRobotics has an average rating of “Moderate Buy” and an average target price of $52.78.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT opened at $35.71 on Monday. The stock’s fifty day simple moving average is $32.99 and its 200 day simple moving average is $43.79. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -23.34 and a beta of 0.99. The company has a quick ratio of 7.20, a current ratio of 8.44 and a debt-to-equity ratio of 0.14. PROCEPT BioRobotics has a 52-week low of $27.80 and a 52-week high of $93.54.

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

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently made changes to their positions in PRCT. JTC Employer Solutions Trustee Ltd bought a new position in PROCEPT BioRobotics in the 3rd quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in PROCEPT BioRobotics during the first quarter valued at about $40,000. Vega Investment Solutions grew its position in shares of PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after purchasing an additional 265 shares during the last quarter. US Bancorp DE increased its stake in shares of PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after purchasing an additional 1,079 shares during the period. Finally, AlphaQuest LLC increased its stake in shares of PROCEPT BioRobotics by 1,262.5% in the second quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after purchasing an additional 1,010 shares during the period. Institutional investors own 89.46% of the company’s stock.

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).