Truist Financial raises their price target on PROCEPT BioRobotics (NASDAQ:PRCT) to $95.00

PROCEPT BioRobotics (NASDAQ:PRCT – Free Report) upped their target price on Truist Financial from $74.00 to $95.00 in a research report on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other analysts have recently issued reports on the company. TD Cowen boosted their price target on PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a buy rating in a research note on Monday, May 6th. Piper Sandler boosted their target price on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an overweight rating in a research note on Monday, May 6th. Wells Fargo & Company raised their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Finally, Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a buy rating in a research report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a buy rating. The company currently has a consensus rating of Buy and an average target price of $74.17, according to MarketBeat.com.

Get the latest stock analysis on PROCEPT BioRobotics

PROCEPT BioRobotics Stock Falls 5.0%

PRCT opened at $75.06 on Tuesday. The company has a current ratio of 7.51, a quick ratio of 6.49, and a debt-to-equity ratio of 0.20. The stock’s fifty-day simple moving average is $67.11, and its 200-day simple moving average is $59.94. PROCEPT BioRobotics has a 1 year low of $24.83 and a 1 year high of $85.81. The stock has a market cap of $3.86 billion, a PE ratio of -35.41 and a beta of 1.00.

PROCEPT BioRobotics (NASDAQ:PRCT – Get Your Free Report ) last announced its earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.02. The business had revenue of $53.35 million during the quarter, compared to the consensus estimate of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. PROCEPT BioRobotics’s revenue was up 61.2% compared to the same quarter last year. In the same quarter last year, the firm posted EPS of ($0.56). As a group, research analysts expect that PROCEPT BioRobotics will post -1.88 earnings per share for the current year.

Insider buying and selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 10,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $62.18, for a total value of $621,800.00. Following the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at approximately $3,262,708.96. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In related news, EVP Hisham Shiblaq sold 26,046 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $68.24, for a total value of $1,777,379.04. Following the completion of the transaction, the executive vice president now owns 55,860 shares in the company, valued at approximately $3,811,886.40. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, EVP Alaleh Nouri sold 10,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $62.18, for a total transaction of $621,800.00. Following the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $3,262,708.96. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s shares.

Institutional inputs and outputs

Hedge funds and other institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH raised its stake in PROCEPT BioRobotics by 42.9% during the 4th quarter. Allianz Asset Management GmbH now owns 96,635 shares of the company’s stock valued at $4,050,000 after acquiring an additional 28,999 shares. in the last quarter. Point72 Europe London LLP raised its stake in PROCEPT BioRobotics by 30.5% in the fourth quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock valued at $22,215,000 after buying an additional 123,800 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of PROCEPT BioRobotics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock valued at $175,376,000 after purchasing an additional 109,694 shares during the period. M&G Plc bought a new position in shares of PROCEPT BioRobotics in the second quarter worth about $8,507,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PROCEPT BioRobotics by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,117 shares of the company’s stock worth $14,045,000 after buying an additional 13,868 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s shares.

About PROCEPT BioRobotics

(Get a free report)

PROCEPT BioRobotics Corporation, a surgical robotics company, is focused on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures and sells the AquaBeam Robotic System, an image-guided surgical robotic system for use in minimally invasive urological surgery with a focus on the treatment of benign prostatic hyperplasia (BPH).

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