PROCEPT BioRobotics, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Josh Jennings from TD Cowen reiterated a Buy rating on the stock and has a $85.00 price target.
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Josh Jennings has given his Buy rating due to a combination of factors related to the recent updates from the Centers for Medicare & Medicaid Services (CMS). The proposed physician fee schedule for CY2026 assigns Aquablation a work RVU of 10.25, which is slightly higher than those for TURP and Greenlight procedures. This aligns with Procept BioRobotics’s base case expectations and helps alleviate investor concerns about potential reimbursement challenges.
Additionally, the proposed RVUs maintain competitive parity, ensuring that there is no significant financial disadvantage that could sway urologists away from choosing Aquablation over other procedures. The possibility of a reclassification to APC Level 7 also presents an opportunity for improved hospital economics. These factors collectively reinforce the stability and attractiveness of Aquablation’s reimbursement framework, supporting Jennings’s Buy recommendation.
In another report released on July 13, Wells Fargo also maintained a Buy rating on the stock with a $75.00 price target.
Based on the recent corporate insider activity of 43 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.