William Blair analyst Brandon Vazquez has maintained their bullish stance on PRCT stock, giving a Buy rating on July 25.
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Brandon Vazquez’s rating is based on several positive indicators for PROCEPT BioRobotics, despite some challenges in the medtech sector. The company has shown strong performance with key metrics such as a significant increase in handpieces, utilization, and installed base, which suggest robust near- and long-term growth potential. Additionally, the market for their products is still largely untapped, with only 15% penetration, indicating room for expansion.
However, some factors could lead to short-term stock volatility, such as a slight reduction in system sales guidance and necessary adjustments to second-half consensus expectations. Furthermore, recent leadership transitions may raise concerns about the company’s direction. Despite these challenges, Vazquez remains optimistic about the company’s fundamentals and believes that the stock’s current valuation presents a buying opportunity compared to its high-growth peers.
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.