A share of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) closed at $36.48 per share on Friday, up from $33.90 day before. While PROCEPT BioRobotics Corporation has overperformed by 7.61%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PRCT rose by 58.68%, with highs and lows ranging from $52.40 to $15.38, whereas the simple moving average fell by -7.79% in the last 200 days.
On October 31, 2022, BTIG Research started tracking PROCEPT BioRobotics Corporation (NASDAQ: PRCT) recommending Neutral. A report published by Truist on October 25, 2022, Initiated its previous ‘Buy’ rating for PRCT. Wells Fargo also rated PRCT shares as ‘Overweight’, setting a target price of $49 on the company’s shares in an initiating report dated September 02, 2022. KeyBanc Capital Markets Initiated an Overweight rating on July 15, 2022, and assigned a price target of $47. B. Riley Securities initiated its ‘Buy’ rating for PRCT, as published in its report on June 23, 2022. SVB Leerink’s report from October 11, 2021 suggests a price prediction of $46 for PRCT shares, giving the stock a ‘Outperform’ rating. Guggenheim also rated the stock as ‘Buy’.
Analysis of PROCEPT BioRobotics Corporation (PRCT)
Further, the quarter-over-quarter increase in sales is 133.30%, showing a positive trend in the upcoming months.
PROCEPT BioRobotics Corporation’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -31.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and PRCT is registering an average volume of 321.91K. On a monthly basis, the volatility of the stock is set at 6.76%, whereas on a weekly basis, it is put at 10.44%, with a loss of -7.29% over the past seven days. Furthermore, long-term investors anticipate a median target price of $53.00, showing growth from the present price of $36.48, which can serve as yet another indication of whether PRCT is worth investing in or should be passed over.
How Do You Analyze PROCEPT BioRobotics Corporation Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 74.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PRCT shares?
The recent increase in stakes in PRCT appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in PRCT has increased by 8.31% in the first quarter. The company now owns 6,352,316 shares of the stock, with a value of $263.88 million, following the purchase of 487,345 additional shares during the last quarter. CPMG, Inc. made another decreased to its shares in PRCT during the first quarter, downing its stake by -41.15%. During the last quarter, the company picked up -3,726,474 additional shares for a total stake of worth $221.36 million, bringing number of shares owned by the company to 5,328,867.
At the end of the first quarter, BlackRock Fund Advisors increased its PRCT holdings by 46.56% and now holds 1.67 million PRCT shares valued at $69.55 million with the added 0.53 million shares during the period. PRCT shares are owned by institutional investors to the tune of 74.90% at present.