PROCEPT BioRobotics Corporation (NASDAQ: PRCT) stock fell -1.06% on Friday to $32.82 against a previous-day closing price of $33.17. With 1.31 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.48 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $33.35 whereas the lowest price it dropped to was $32.19. The 52-week range on PRCT shows that it touched its highest point at $48.29 and its lowest point at $25.29 during that stretch. It currently has a 1-year price target of $49.43. Beta for the stock currently stands at 0.57.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PRCT was down-trending over the past week, with a drop of -1.26%, but this was up by 5.02% over a month. Three-month performance dropped to -6.47% while six-month performance rose 2.18%. The stock lost -29.87% in the past year, while it has lost -20.99% so far this year. A look at the trailing 12-month EPS for PRCT yields -2.33 with Next year EPS estimates of -1.69. For the next quarter, that number is -0.53. This implies an EPS growth rate of -43.20% for this year and 17.60% for next year.
Float and Shares Shorts:
At present, 50.36 million PRCT shares are outstanding with a float of 48.54 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.23 million, which was 8.40% higher than short shares on Jul 30, 2023. In addition to Dr. Reza Zadno Ph.D. as the firm’s Pres, CEO & Director, Mr. Kevin Waters serves as its Exec. VP & CFO.
Institutional Ownership:
Through their ownership of 77.06% of PRCT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.77% of PRCT, in contrast to 29.55% held by mutual funds. Shares owned by individuals account for 15.02%. As the largest shareholder in PRCT with 13.25% of the stake, Fidelity Management & Research Co holds 6,582,908 shares worth 6,582,908. A second-largest stockholder of PRCT, CPMG, Inc., holds 5,328,867 shares, controlling over 10.72% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in PRCT, holding 3,591,954 shares or 7.23% stake. With a 2.65% stake in PRCT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,316,056 shares are owned by the mutual fund manager. The T Rowe Price Small Cap Stock Fund, which owns about 2.60% of PRCT stock, is the second-largest Mutual Fund holder. It holds 1,293,879 shares valued at 44.13 million. Fidelity Select Medical Technolog holds 2.37% of the stake in PRCT, owning 1,180,000 shares worth 40.25 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, PRCT reported revenue of $16.69M and operating income of -$17.88M. The EBITDA in the recently reported quarter was -$17.03M and diluted EPS was -$0.43.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRCT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PRCT analysts setting a high price target of $62.00 and a low target of $39.00, the average target price over the next 12 months is $49.43. Based on these targets, PRCT could surge 88.91% to reach the target high and rise by 18.83% to reach the target low. Reaching the average price target will result in a growth of 50.61% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PRCT stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 7,903 shares were bought while 7,903 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 231,202 while 1,898,530 shares were sold.
