Procept BioRobotics price target lowered to $90 from $105 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on Procept BioRobotics (PRCT) to $90 from $105 but keeps a Buy rating on the shares. The company’s Q4 revenue upside was basically as expected with system revenue upside more than offsetting weak procedures due to saline shortages and the management pointing to a robust procedure pick-up in February, the analyst tells investors in a research note. The stock had likely ‘pre-traded’ the expected procedure miss, which should set-up for a bounce back, Truist adds.