PROCEPT BioRobotics (NASDAQ:PRCT) PT Raised to $75.00 at Piper Sandler

PROCEPT BioRobotics (NASDAQ:PRCT) had its target price hoisted by equities research analysts at Piper Sandler from $67.00 to $75.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 19.45% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Truist Financial increased their target price on PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Wells Fargo & Company increased their target price on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Buy” and a consensus target price of $61.20.

PROCEPT BioRobotics Price Performance

NASDAQ:PRCT opened at $62.79 on Monday. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -29.62 and a beta of 0.95. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19. PROCEPT BioRobotics has a 12-month low of $24.83 and a 12-month high of $65.00. The stock’s 50 day moving average price is $50.75 and its two-hundred day moving average price is $44.31.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. The company had revenue of $44.50 million for the quarter, compared to analyst estimates of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The firm’s quarterly revenue was up 82.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.63) earnings per share. On average, analysts anticipate that PROCEPT BioRobotics will post -1.96 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 28,677 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.09, for a total value of $1,436,430.93. Following the sale, the chief financial officer now owns 33,523 shares of the company’s stock, valued at approximately $1,679,167.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Alaleh Nouri sold 30,432 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the sale, the executive vice president now owns 62,472 shares of the company’s stock, valued at approximately $3,933,861.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Waters sold 28,677 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.09, for a total value of $1,436,430.93. Following the sale, the chief financial officer now directly owns 33,523 shares in the company, valued at approximately $1,679,167.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,371 shares of company stock valued at $7,459,789. 19.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of PROCEPT BioRobotics by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock valued at $133,697,000 after acquiring an additional 385,271 shares in the last quarter. Wellington Management Group LLP bought a new position in PROCEPT BioRobotics during the 3rd quarter worth $26,404,000. American Century Companies Inc. raised its position in PROCEPT BioRobotics by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 655,295 shares of the company’s stock worth $21,500,000 after purchasing an additional 81,534 shares during the last quarter. Handelsbanken Fonder AB raised its position in PROCEPT BioRobotics by 49.3% during the 4th quarter. Handelsbanken Fonder AB now owns 10,300 shares of the company’s stock worth $432,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in PROCEPT BioRobotics during the 3rd quarter worth $583,000. Institutional investors and hedge funds 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).