PROCEPT BioRobotics (PRCT) experienced a significant after-hours plunge of 9.39% on Monday, following a series of analyst price target reductions published earlier in the day.

The post-market decline came after both UBS and Truist Securities significantly lowered their price targets for the medical robotics company. UBS analyst Danielle Antalffy cut the firm's price target to $30 from $62, while maintaining a Buy rating on the shares. Similarly, Truist Securities reduced its target price to $30 from $47, also maintaining a Buy rating.

These substantial downward revisions in price targets from major financial institutions appear to have triggered investor concern, leading to the sharp after-hours selloff. Despite the maintained Buy ratings, the magnitude of the target reductions suggests analysts see reduced near-term growth prospects for the company.