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PRCT · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is PROCEPT BioRobotics Corporation Common Stock (PRCT) stock moving?
PRCT reported Q3 2026 sales of $98.3M and EPS of $(0.46), both below consensus ($102.6M and $(0.38)). The company reaffirmed FY2026 sales guidance of $390M-$410M, with the midpoint of $400M above the $395.4M consensus, which limited the damage. The stock spiked to a $23.19 intraday high on Nov 4 and to $24.07 on Nov 5 on heavy volume of 2.8M and 3.1M shares, then closed at $20.27 on Nov 5. Analysts followed with price target increases: Leerink to $22 (Market Perform), UBS to $21 (Neutral) and Truist to $24 (Hold). All three keep non-buy ratings. The stock has since recovered on volume of about 1.7-1.8M shares on Nov 9 and Nov 10, closing at $23.05. That is above the UBS and Leerink targets and close to the Truist target. The price already reflects much of the upside the analysts see, and the mixed picture of a Q3 miss against reaffirmed guidance keeps the outlook balanced.
News behind the analysis
- PROCEPT BioRobotics Q3 EPS $(0.46) Misses $(0.38) Estimate, Sales $98.291M Miss $102.563M EstimateQ3 2026 EPS of $(0.46) missed the $(0.38) estimate, and sales of $98.291M fell short of the $102.563M estimate.
- PROCEPT BioRobotics Affirms FY2026 Sales Guidance of $390.000M-$410.000M vs $395.409M EstThe company reaffirmed FY2026 sales guidance of $390M-$410M, with the midpoint above the $395.4M consensus estimate.
- PROCEPT BioRobotics Corporation Reports Q3 2026 Financial ResultsPROCEPT BioRobotics reported unaudited results for the quarter ended September 30, 2026, and reaffirmed its 2026 financial guidance.
- PROCEPT BioRobotics Q3 2026 Earnings Call TranscriptThe transcript of the third-quarter 2026 earnings call, held on Wednesday, Nov 4, has been published.
- Leerink Partners Maintains Market Perform on PROCEPT BioRobotics, Raises Price Target to $22Leerink Partners kept its Market Perform rating and raised its price target from $20 to $22.
- Leerink Partners Adjusts PROCEPT BioRobotics Price TargetLeerink Partners kept its Market Perform rating on PROCEPT BioRobotics and lifted its price target from $20 to $22.
- UBS Maintains Neutral on PROCEPT BioRobotics, Raises Price Target to $21UBS maintained its Neutral rating and raised its price target to $21 from $20.
- UBS Maintains PROCEPT BioRobotics at Neutral, Raises Price Target to $21UBS kept a Neutral rating on PROCEPT BioRobotics and increased its price target to $21 from $20.
- Truist Securities Maintains Hold on PROCEPT BioRobotics, Raises Price Target to $24Truist Securities maintained its Hold rating and raised its price target to $24 from $21.
About PROCEPT BioRobotics Corporation Common Stock
PROCEPT BioRobotics is a San Jose-based surgical robotics company. Its robots, the AquaBeam system and the newer HYDROS, perform Aquablation therapy, which uses a heat-free waterjet to remove prostate tissue in men with an enlarged prostate (benign prostatic hyperplasia, or BPH). The company is also running a trial called WATER IV that compares Aquablation with surgical removal of the prostate in prostate cancer patients, with data expected in the first half of 2027.
How it makes money
The company makes money in three ways: selling robotic systems to hospitals, selling a single-use handpiece and other disposables for every procedure, and charging for service. As more systems are installed, the recurring handpiece sales tend to make up a larger share of revenue. Most revenue comes from the US, roughly 85% in early 2026. Its 2026 revenue target is about $390–410 million, with a gross margin of roughly 65%. The company is still losing money.
What usually moves PRCT
- US procedure volumes and how much each installed system is used
- Hospital spending on new systems and replacing AquaBeam robots with HYDROS
- Clinical trial results, especially the WATER IV prostate cancer study
- Insurance reimbursement and urology treatment guidelines
- Progress toward profitability and how results compare with guidance