PROCEPT BioRobotics (NASDAQ:PRCT) Issues Earnings Results, Beats Expectations By $0.04 EPS

PROCEPT BioRobotics (NASDAQ:PRCT) posted its quarterly earnings data on Wednesday. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04, Briefing.com reports. The firm had revenue of $44.50 million during the quarter, compared to analysts’ expectations of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 46.59% and a negative net margin of 77.75%. The firm’s quarterly revenue was up 82.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.63) EPS. PROCEPT BioRobotics updated its FY 2024 guidance to EPS.

PROCEPT BioRobotics Trading Down 2.1 %

NASDAQ:PRCT traded down $1.29 during mid-day trading on Thursday, reaching $59.32. The company’s stock had a trading volume of 580,738 shares, compared to its average volume of 525,366. The stock has a market cap of $3.05 billion, a P/E ratio of -27.19 and a beta of 0.95. PROCEPT BioRobotics has a twelve month low of $24.83 and a twelve month high of $63.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77. The company’s fifty day simple moving average is $49.69 and its two-hundred day simple moving average is $43.24.

Insider Activity

In other news, EVP Alaleh Nouri sold 5,306 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total value of $265,034.70. Following the transaction, the executive vice president now directly owns 47,351 shares of the company’s stock, valued at approximately $2,365,182.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alaleh Nouri sold 5,306 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total value of $265,034.70. Following the transaction, the executive vice president now directly owns 47,351 shares of the company’s stock, valued at approximately $2,365,182.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Waters sold 904 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now directly owns 33,523 shares in the company, valued at $1,676,150. The disclosure for this sale can be found here. Insiders have sold 94,149 shares of company stock valued at $4,653,720 in the last three months. Corporate insiders own 19.60% of the company’s stock.

Analysts Set New Price Targets

PRCT has been the subject of a number of recent research reports. Truist Financial lifted their price objective on PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company raised their price target on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $49.50.

About PROCEPT BioRobotics

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).