Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT – Get Rating) were up 4.6% on Tuesday . The company traded as high as $42.41 and last traded at $42.21. Approximately 3,049 shares changed hands during trading, a decline of 98% from the average daily volume of 196,265 shares. The stock had previously closed at $40.37.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on PRCT shares. KeyCorp began coverage on PROCEPT BioRobotics in a report on Friday, July 15th. They set an "overweight" rating and a $47.00 price objective on the stock. B. Riley assumed coverage on PROCEPT BioRobotics in a research note on Thursday, June 23rd. They set a "buy" rating and a $53.00 price objective for the company. Finally, Wells Fargo & Company started coverage on PROCEPT BioRobotics in a report on Friday. They set an "overweight" rating and a $49.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.50.
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The company has a debt-to-equity ratio of 0.22, a quick ratio of 15.27 and a current ratio of 16.01. The firm has a 50 day moving average of $37.74 and a 200-day moving average of $34.83.
PROCEPT BioRobotics (NASDAQ:PRCT – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.06. PROCEPT BioRobotics had a negative return on equity of 26.41% and a negative net margin of 138.49%. Analysts anticipate that PROCEPT BioRobotics Co. will post -1.83 EPS for the current fiscal year.Insider Transactions at PROCEPT BioRobotics
In related news, Director Thomas M. Krummel sold 20,000 shares of the firm's stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $35.98, for a total value of $719,600.00. Following the completion of the sale, the director now directly owns 82,920 shares in the company, valued at approximately $2,983,461.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 40.80% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in PRCT. Amalgamated Bank acquired a new position in shares of PROCEPT BioRobotics during the first quarter worth $39,000. US Bancorp DE bought a new stake in shares of PROCEPT BioRobotics during the second quarter worth about $37,000. Shell Asset Management Co. bought a new stake in shares of PROCEPT BioRobotics during the second quarter worth about $102,000. MetLife Investment Management LLC bought a new stake in PROCEPT BioRobotics in the 1st quarter worth about $175,000. Finally, JPMorgan Chase & Co. grew its position in PROCEPT BioRobotics by 18.2% in the 1st quarter. JPMorgan Chase & Co. now owns 5,353 shares of the company's stock worth $188,000 after purchasing an additional 825 shares in the last quarter. 76.23% of the stock is owned by institutional investors.
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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