It is Poised to be a Bull Market for Procept BioRobotics Corp (PRCT)

With 0.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.19 shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $50.48 whereas the lowest price it dropped to was $49.26. The 52-week range on PRCT shows that it touched its highest point at $50.00 and its lowest point at $24.83 during that stretch. It currently has a 1-year price target of $51.00. Beta for the stock currently stands at 1.04.

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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 up-trending over the past week, with a rise of 4.24%, but this was up by 4.98% over a month. Three-month performance surged to 51.98% while six-month performance rose 57.74%. The stock gained 36.00% in the past year, while it has gained 19.16% so far this year. A look at the trailing 12-month EPS for PRCT yields -2.33 with Next year EPS estimates of -1.89. For the next quarter, that number is -0.44. This implies an EPS growth rate of -9.06% for this year and 11.61% for next year.

Float and Shares Shorts:

At present, 50.47 million PRCT shares are outstanding with a float of 48.24 million shares on hand for trading. On Jan 31, 2024, short shares totaled 4.59 million, which was 9.09% higher than short shares on Dec 29, 2023. In addition to Dr. Reza Zadno Ph.D. as the firm’s President, CEO & Director, Mr. Kevin Waters serves as its Executive VP & CFO.

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 $58.00 and a low target of $45.00, the average target price over the next 12 months is $51.00. Based on these targets, PRCT could surge 16.14% to reach the target high and fall by -9.89% to reach the target low. Reaching the average price target will result in a growth of 2.12% from current levels.

Summary of Insider Activity:

Insiders traded PRCT stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 25,000 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 236,350 while 129,055 shares were sold.