Leerink Partners analyst Mike Kratky has reiterated their bullish stance on PRCT stock, giving a Buy rating on July 25.
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Mike Kratky has given his Buy rating due to a combination of factors including the appointment of Larry Wood as the new CEO of PROCEPT BioRobotics. Larry Wood brings a wealth of experience from his previous role at Edwards Lifesciences, where he played a key role in the development of the Transcatheter Aortic Valve Replacement program. His leadership is expected to provide significant strategic benefits to PROCEPT BioRobotics as it continues to innovate in the BPH surgical market.
Additionally, the company has demonstrated strong financial performance, with a pre-announced second-quarter revenue that is 4% above consensus expectations, reflecting a 48% year-over-year growth. This consistent ability to exceed market expectations, despite a challenging year for its stock, underscores the company’s robust commercial momentum and potential for future growth, further supporting the Buy rating.
In another report released on July 25, TD Cowen also reiterated a Buy rating on the stock with a $85.00 price target.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRCT in relation to earlier this year.