Shares of PROCEPT BioRobotics (NASDAQ: PRCT) plummeted 7.71% in intraday trading on Wednesday, as investors reacted negatively to the company's 2026 revenue guidance despite better-than-expected third-quarter results. The surgical robotics company's stock decline was further exacerbated by a series of analyst price target cuts.

PROCEPT BioRobotics reported strong Q3 performance, with revenue of $83.3 million surpassing analyst estimates of $80.9 million. The company's adjusted EBITDA loss of $7.4 million also beat expectations, coming in better than the anticipated loss of $10.2 million. However, these positive results were overshadowed by the company's forward-looking projections.

While PROCEPT BioRobotics maintained its fiscal year 2025 revenue guidance of approximately $325.5 million, representing a 45% year-over-year growth, it was the newly issued fiscal year 2026 revenue guidance that disappointed investors. The company projects 2026 revenue to be in the range of $410 million to $430 million, indicating a growth rate of 26% to 32% compared to the 2025 guidance. This potential deceleration in growth appears to be the primary factor behind the stock's sharp decline, as investors had likely anticipated more aggressive growth projections for the coming year. In response to the guidance, several analysts, including Jefferies, Leerink Partners, Morgan Stanley, and Wells Fargo, cut their price targets for PROCEPT BioRobotics, further contributing to the negative sentiment surrounding the stock.