PROCEPT BioRobotics (NASDAQ:PRCT) Posts Earnings Results, Beats Estimates By $0.04 EPS

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

PROCEPT BioRobotics Price Performance

PRCT stock traded up $0.57 during trading on Thursday, hitting $61.18. 652,873 shares of the stock traded hands, compared to its average volume of 526,288. PROCEPT BioRobotics has a one year low of $24.83 and a one year high of $63.26. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -27.19 and a beta of 0.95. The company has a 50 day simple moving average of $49.69 and a 200 day simple moving average of $43.24. The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18.

Analysts Set New Price Targets

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

Insider Activity at PROCEPT BioRobotics

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

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).