PROCEPT BioRobotics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Craig Bijou from Bank of America Securities maintained a Buy rating on the stock and has a $84.00 price target.
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Craig Bijou has given his Buy rating due to a combination of factors surrounding the recent developments in the physician fee schedule for PROCEPT BioRobotics’s Aquablation procedure. The Center of Medicare and Medicaid Services released a proposed physician fee schedule for 2026, which includes a new Category I CPT code for Aquablation. Although the physician fees for Aquablation and other resective BPH procedures are set to decrease, Bijou believes this will not significantly impact the adoption of Aquablation. This is because the procedure has shown impressive clinical results and can be standardized across various prostate sizes, maintaining its appeal to urologists.
Furthermore, Bijou notes that the concerns about reduced surgeon payments potentially slowing adoption are likely to diminish following the fee schedule release. The fees for Aquablation remain competitive with other procedures, such as TURP and Greenlight, ensuring that urologists continue to receive comparable compensation. Bijou maintains a positive outlook on PROCEPT BioRobotics, citing its strong growth potential and the possibility of Aquablation becoming the standard of care for treating benign prostatic hyperplasia (BPH).
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $85.00 price target.