Leerink Partners Downgrades PROCEPT BioRobotics to Hold
Leerink Partners lowered its rating on PROCEPT BioRobotics, setting a $29 price target.
Key Points
- Leerink Partners downgraded PROCEPT BioRobotics to a hold on June 11, 2026, setting a $29 price target.
- Shares of PROCEPT BioRobotics (NasdaqGM:PRCT) traded near $25.71, with a market cap of about $1.46 billion.
- Insiders including Antal Rohit Desai and Thomas Prescott bought shares on June 9, 2026, while analysts' consensus remains a buy.
On June 11, 2026, Leerink Partners downgraded its rating for PROCEPT BioRobotics Corporation (NasdaqGM:PRCT) from buy to hold, setting a new price target of $29. This change comes as the stock was trading around $25.71.
Analysts Set New Price Targets
On June 11, 2026, Leerink Partners downgraded PROCEPT BioRobotics to a hold, setting a price target of $29. Previously, Piper Sandler reiterated their buy rating with a $35 target on April 30, 2026. Baird initiated coverage with a hold rating and a $30 target on March 6, 2026. The consensus among analysts is a buy, with an average target price of about $30.22 based on nine opinions.
PROCEPT BioRobotics Stock Snapshot
Shares of PROCEPT BioRobotics (NasdaqGM:PRCT) recently traded near $25.71. The company has a market capitalization of approximately $1.46 billion. PROCEPT BioRobotics has a forward P/E ratio that isn't meaningful as the company is not profitable, with an EPS of -1.83. Its beta is 0.847, indicating lower volatility compared to the market. The stock's 52-week range is between $19.35 and $62.17, with a 50-day moving average of $25.75 and a 200-day moving average of $30.37. The company maintains a strong liquidity position with a current ratio of 6.73 and a quick ratio of 5.38.
Insider Buying and Selling at PROCEPT BioRobotics Corporation
Insider activity at PROCEPT BioRobotics saw several purchases on June 9, 2026. Notable insiders such as Antal Rohit Desai and Thomas Prescott acquired 3,315 shares each, while Dan Puckett and Mary Garrett bought 5,853 shares each. All these transactions were not part of a pre-planned trading program.
Other Institutional Activity in PROCEPT BioRobotics
BlackRock, Inc. increased its holdings in PROCEPT BioRobotics by 14,969 shares, bringing its total to 4,362,002 shares valued at approximately $109.1 million. T. Rowe Price Investment Management, Inc. also added 2,386 shares, totaling 3,273,794 shares worth about $81.9 million. Meanwhile, BNP Paribas Asset Management Holding S.A. slightly reduced its position by 5,271 shares, leaving it with 3,089,378 shares valued at $77.3 million.
About PROCEPT BioRobotics Corporation
PROCEPT BioRobotics Corporation, headquartered in San Jose, California, is a medical device company specializing in surgical robotics. It focuses on developing solutions for urology, particularly through its AquaBeam Robotic System, which is used for minimally invasive urologic surgery. The company also offers the HYDROS Robotic System, which provides Aquablation therapy to treat benign prostatic hyperplasia. Under the leadership of CEO Larry L. Wood, PROCEPT BioRobotics continues to innovate in the healthcare sector with a workforce of 888 employees.
Bottom Line
Leerink Partners' decision to downgrade PROCEPT BioRobotics reflects a more cautious outlook, with a $29 price target. Investors often track such analyst updates to gauge market sentiment. As always, it’s important to remember that these ratings reflect analysts' views at a specific point in time and may not indicate future performance.
See Also
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