Reviewing The Case For Procept BioRobotics Corp (PRCT) Going Higher

Currently, there are 50.77M common shares owned by the public and among those 48.73M shares have been available to trade.

The company’s stock has a 5-day price change of -0.43% and 18.98% over the past three months. PRCT shares are trading 88.50% year to date (YTD), with the 12-month market performance up to 134.70% higher. It has a 12-month low price of $24.83 and touched a high of $85.81 over the same period. PRCT has an average intraday trading volume of 661.80K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.38%, 19.83%, and 46.43% respectively.

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Institutional ownership of Procept BioRobotics Corp (NASDAQ: PRCT) shares accounts for 84.72% of the company’s 50.77M shares outstanding.

It has a market capitalization of $4.10B and a beta (3y monthly) value of 1.01. The earnings-per-share (ttm) stands at -$2.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.33% over the week and 6.00% over the month.

Analysts forecast that Procept BioRobotics Corp (PRCT) will achieve an EPS of -0.49 for the current quarter, -0.39 for the next quarter and -1.47 for current fiscal year. The lowest estimate earnings-per-share for the quarter is -0.51 while analysts give the company a high EPS estimate of -0.51. Comparatively, EPS for the current quarter was -0.51 a year ago. Earnings per share for the fiscal year are expected to increase by 15.77%, and 22.07% over the next financial year. EPS should grow at an annualized rate of 23.10% over the next five years, compared to -23.27% over the past 5-year period.

Looking at the support for the PRCT, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on August 11, 2023, with the firm’s price target at $42. BTIG Research was of a view on October 31, 2022 that the stock is Neutral, while Truist gave the stock Buy rating on October 25, 2022, issuing a price target of $58. Wells Fargo on their part issued Overweight rating on September 02, 2022.

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