PROCEPT BioRobotics (NASDAQ:PRCT) Given “Buy” Rating at Truist Financial

Truist Financial reiterated their buy rating on shares of PROCEPT BioRobotics (NASDAQ:PRCT) in a research report sent to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a $90.00 target price on the stock, down from their previous target price of $105.00.

A number of other research firms also recently commented on PRCT. Wells Fargo & Company restated an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Finally, Morgan Stanley started coverage on shares of PROCEPT BioRobotics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of “Moderate Buy” and an average target price of $94.29.

PROCEPT BioRobotics Stock Performance

PRCT opened at $68.11 on Wednesday. The firm’s fifty day simple moving average is $75.25 and its two-hundred day simple moving average is $79.94. PROCEPT BioRobotics has a 52-week low of $45.20 and a 52-week high of $103.81. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -34.93 and a beta of 1.03. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. Equities analysts anticipate that PROCEPT BioRobotics will post -1.75 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following the transaction, the executive vice president now owns 52,472 shares in the company, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reza Zadno sold 26,423 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the completion of the transaction, the chief executive officer now owns 152,762 shares in the company, valued at $14,851,521.64. This represents a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in PROCEPT BioRobotics by 1.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company’s stock valued at $1,141,000 after buying an additional 150 shares during the last quarter. Naviter Wealth LLC boosted its stake in PROCEPT BioRobotics by 6.0% during the 4th quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock worth $249,000 after purchasing an additional 176 shares during the period. Amundi grew its holdings in shares of PROCEPT BioRobotics by 0.9% during the fourth quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after buying an additional 183 shares during the last quarter. Finally, Arizona State Retirement System increased its position in PROCEPT BioRobotics by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock valued at $1,150,000 after acquiring an additional 218 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).