Procept Biorobotics surges on strong revenue, forecast

PROCEPT BioRobotics

08/03/2022 19:03

** Surgical robotics firm's shares  PRCT.O  surge nearly 10%
to $25.81 - set for biggest pct jump in over five months
    ** Co posts Q4 revenue of $10.1 million above analysts'
estimates of $9 million; forecasts revenue for 2022 also above
estimates - Refinitiv data  urn:newsml:reuters.com:*:nGNX68s4QL
    ** Brokerage SVB Leerink says PRCT is on track to more than
triple its revenue by 2023
    ** "We believe there is an upside potential as the company
expands its sales force, grows the AquaBeam Robotic System
installed base, and drives higher utilization per system" - SVB;
raises PT to $30 from $25
    ** Four of five brokerages rate the stock "buy" or higher,
while one has "hold"; their median PT is $48
    ** Including session's gain, stock up 3.2% from IPO price of
$25  urn:newsml:reuters.com:*:nFWN2QH0Y7

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))