PROCEPT BioRobotics Co. (NASDAQ:PRCT – Get Rating)’s stock price gapped down before the market opened on Thursday after Wells Fargo & Company lowered their price target on the stock from $52.00 to $43.00. The stock had previously closed at $32.49, but opened at $31.63. Wells Fargo & Company currently has an overweight rating on the stock. PROCEPT BioRobotics shares last traded at $32.70, with a volume of 3,955 shares changing hands.
A number of other research firms have also weighed in on PRCT. KeyCorp raised their price objective on shares of PROCEPT BioRobotics from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, November 4th. The Goldman Sachs Group boosted their target price on PROCEPT BioRobotics from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 4th. BTIG Research began coverage on shares of PROCEPT BioRobotics in a research note on Monday, October 31st. They issued a “neutral” rating for the company. Finally, Truist Financial increased their price objective on shares of PROCEPT BioRobotics from $56.00 to $58.00 in a research report on Monday, November 14th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PROCEPT BioRobotics has an average rating of “Moderate Buy” and a consensus target price of $44.75.
Insider Transactions at PROCEPT BioRobotics
In other news, EVP Alaleh Nouri sold 20,000 shares of the company’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the executive vice president now directly owns 27,126 shares in the company, valued at approximately $1,138,478.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 43,064 shares of company stock worth $1,829,318 in the last 90 days. 40.80% of the stock is currently owned by insiders.
Institutional Trading of PROCEPT BioRobotics
Several hedge funds have recently bought and sold shares of PRCT. Point72 Hong Kong Ltd bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at approximately $35,000. US Bancorp DE bought a new stake in shares of PROCEPT BioRobotics during the 2nd quarter valued at $37,000. Amalgamated Bank purchased a new position in shares of PROCEPT BioRobotics during the 1st quarter valued at $39,000. Russell Investments Group Ltd. bought a new position in PROCEPT BioRobotics in the 3rd quarter worth $71,000. Finally, UBS Group AG boosted its holdings in PROCEPT BioRobotics by 127.9% in the 3rd quarter. UBS Group AG now owns 1,823 shares of the company’s stock worth $75,000 after buying an additional 1,023 shares during the period. Institutional investors own 66.40% of the company’s stock.
PROCEPT BioRobotics Price Performance
The stock has a 50 day simple moving average of $42.44 and a 200-day simple moving average of $40.90. The firm has a market cap of $1.46 billion, a PE ratio of -18.69 and a beta of 0.85. The company has a current ratio of 10.56, a quick ratio of 9.74 and a debt-to-equity ratio of 0.24.
PROCEPT BioRobotics (NASDAQ:PRCT – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.04). The company had revenue of $20.35 million during the quarter, compared to analysts’ expectations of $17.25 million. PROCEPT BioRobotics had a negative return on equity of 31.57% and a negative net margin of 126.00%. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.87 earnings per share for the current fiscal year.
About PROCEPT BioRobotics
PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology. It 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).