FY2024 Earnings Forecast for PRCT Issued By Leerink Partnrs

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Investment analysts at Leerink Partnrs boosted their FY2024 earnings per share (EPS) estimates for PROCEPT BioRobotics in a note issued to investors on Monday, November 25th. Leerink Partnrs analyst M. Kratky now expects that the company will post earnings of ($1.74) per share for the year, up from their previous estimate of ($1.76). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.74) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.33) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.27) EPS, Q4 2025 earnings at ($0.17) EPS, FY2025 earnings at ($1.06) EPS, FY2026 earnings at ($0.59) EPS and FY2027 earnings at ($0.30) EPS.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same quarter in the previous year, the firm earned ($0.51) EPS. PROCEPT BioRobotics’s quarterly revenue was up 66.4% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. Truist Financial restated a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Bank of America upped their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT opened at $99.27 on Wednesday. The firm’s 50 day moving average price is $82.73 and its 200-day moving average price is $72.86. PROCEPT BioRobotics has a 52-week low of $33.45 and a 52-week high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently bought and sold shares of the stock. M&G Plc bought a new position in shares of PROCEPT BioRobotics in the second quarter worth about $8,507,000. Federated Hermes Inc. increased its holdings in PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after acquiring an additional 162,785 shares in the last quarter. Nicholas Investment Partners LP bought a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $4,657,000. Vanguard Group Inc. lifted its holdings in PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after purchasing an additional 62,164 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of PROCEPT BioRobotics by 290.2% in the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after purchasing an additional 51,030 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 33,000 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $96.60, for a total transaction of $3,187,800.00. Following the transaction, the director now owns 231,363 shares in the company, valued at $22,349,665.80. This trade represents a 12.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. The trade was a 52.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,773 shares of company stock worth $49,073,125. 17.40% of the stock is owned by insiders.

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).