PROCEPT BioRobotics: Strong Financial Performance and Strategic Positioning Justify Buy Rating

Analyst Josh Jennings of TD Cowen maintained a Buy rating on PROCEPT BioRobotics (PRCT – Research Report), retaining the price target of $85.00.

Josh Jennings has given his Buy rating due to a combination of factors including PROCEPT BioRobotics’s impressive financial performance and strategic positioning. The company reported a significant increase in revenue for the first quarter, surpassing market expectations with $69.2 million, a 55% rise compared to the previous year. This growth was primarily driven by increased system sales to new hospitals and a rise in handpiece revenue.
Additionally, PROCEPT BioRobotics has shown resilience by effectively managing its supply chain risks and reducing tariff exposure. The company’s ability to sell capital at higher average selling prices and its ambition to establish Aquablation as the standard treatment for BPH further reinforce its strong market position. With a solid cash reserve and a narrower adjusted EBITDA loss than anticipated, the company is well-positioned for future growth, justifying the Buy rating.