Patrick Wood, an analyst from Morgan Stanley, maintained the Buy rating on PROCEPT BioRobotics (PRCT – Research Report). The associated price target was lowered to $95.00.
Patrick Wood has given his Buy rating due to a combination of factors that suggest a positive outlook for PROCEPT BioRobotics. Despite the stock experiencing a decline of 25% year-to-date and initial low investor expectations due to saline shortages affecting procedure volumes, the company’s recent earnings report exceeded these expectations. The report highlighted resilience in customer segments not impacted by saline restrictions and a return to normal activity levels in February, which are promising indicators for future performance.
Furthermore, PROCEPT BioRobotics appears well-positioned for a strong 2025, with realistic and slightly conservative guidance and ongoing opportunities for market penetration. The upcoming American Urological Association (AUA) meeting in April is expected to provide additional data on the oncology side, which could serve as a catalyst for further growth. Overall, these factors contribute to a favorable investment thesis, justifying the Buy rating.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $85.00 price target.