PROCEPT BioRobotics Co. (NASDAQ:PRCT – Get Rating)'s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $48.96 and last traded at $48.40, with a volume of 8089 shares traded. The stock had previously closed at $44.87.
Analyst Ratings Changes
PRCT has been the topic of a number of analyst reports. KeyCorp initiated coverage on shares of PROCEPT BioRobotics in a research note on Friday, July 15th. They issued an "overweight" rating and a $47.00 target price on the stock. B. Riley initiated coverage on shares of PROCEPT BioRobotics in a research note on Thursday, June 23rd. They issued a "buy" rating and a $53.00 target price on the stock. Finally, Wells Fargo & Company initiated coverage on shares of PROCEPT BioRobotics in a research note on Friday, September 2nd. They issued an "overweight" rating and a $49.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.
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PROCEPT BioRobotics Stock Performance
The stock has a market capitalization of $2.15 billion and a price-to-earnings ratio of -19.35. The company has a quick ratio of 15.27, a current ratio of 16.01 and a debt-to-equity ratio of 0.22. The stock's 50-day simple moving average is $38.53 and its 200 day simple moving average is $35.53.
PROCEPT BioRobotics (NASDAQ:PRCT – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.43) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.06. PROCEPT BioRobotics had a negative net
margin of 138.49% and a negative return on equity of 26.41%. Analysts expect that PROCEPT BioRobotics Co. will post -1.83 earnings per share for the current fiscal year.
Insider Transactions at PROCEPT BioRobotics
In other news, Director Thomas M. Krummel sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $35.98, for a total transaction of $719,600.00. Following the transaction, the director now directly owns 82,920 shares in the company, valued at $2,983,461.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 40.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On PROCEPT BioRobotics
A number of large investors have recently modified their holdings of the stock. US Bancorp DE acquired a new position in PROCEPT BioRobotics in the second quarter valued at approximately $37,000. Amalgamated Bank acquired a new position in PROCEPT BioRobotics in the first quarter valued at approximately $39,000. Shell Asset Management Co. acquired a new position in PROCEPT BioRobotics in the second quarter valued at approximately $102,000. MetLife Investment Management LLC acquired a new position in PROCEPT BioRobotics in the first quarter valued at approximately $175,000. Finally, Quantbot Technologies LP acquired a new position in PROCEPT BioRobotics in the second quarter valued at approximately $178,000. 76.23% of the stock is currently owned by institutional investors and hedge funds.
About PROCEPT BioRobotics
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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).
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