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Procept BioRobotics price target lowered to $55 from $80 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Procept BioRobotics (PRCT) to $55 from $80 and keeps an Overweight rating on the shares. The firm notes the company reported Q2 results with sales that came in line with its preannouncement. Greenfield capital placements were a little light, but management reiterated its outlook for the full year and with a new CEO coming in this quarter, Piper doubts they want to set him up to miss. Overall, guidance was raised in line with the Q2.

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