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

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

PROCEPT BioRobotics Trading Down 2.1 %

Shares of PRCT stock traded down $1.29 on Thursday, hitting $59.32. 580,738 shares of the company’s stock traded hands, compared to its average volume of 525,366. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -27.19 and a beta of 0.95. PROCEPT BioRobotics has a one year low of $24.83 and a one year high of $63.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63. The company’s fifty day simple moving average is $49.69 and its 200 day simple moving average is $43.24.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRCT. Truist Financial increased their target price on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $49.50.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,306 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $49.95, for a total value of $265,034.70. Following the sale, the executive vice president now owns 47,351 shares of the company’s stock, valued at approximately $2,365,182.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 1,024 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $48.83, for a total value of $50,001.92. Following the sale, the chief financial officer now owns 102,149 shares of the company’s stock, valued at approximately $4,987,935.67. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alaleh Nouri sold 5,306 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total transaction of $265,034.70. Following the completion of the sale, the executive vice president now directly owns 47,351 shares of the company’s stock, valued at $2,365,182.45. The disclosure for this sale can be found here. Insiders have sold a total of 94,149 shares of company stock valued at $4,653,720 in the last quarter. Insiders own 19.60% of the company’s stock.

PROCEPT BioRobotics Company Profile

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).