Is PROCEPT BioRobotics Corp. overvalued or undervalued?

As of 4 November 2021, the valuation grade for PROCEPT BioRobotics Corp. moved from does not qualify to risky, indicating increased concerns regarding its financial health. The company is currently overvalued, as evidenced by its Price to Book Value of 8.94 and negative metrics such as an EV to EBIT of -33.38 and ROCE of -76.25%. In comparison, peers like iRhythm Technologies, Inc. have a P/E ratio of -111.60, while TransMedics Group, Inc. shows a fair valuation with a P/E of 50.23.
The stock has significantly underperformed against the S&P 500, with a year-to-date return of -52.77% compared to the index's 12.22%. This stark contrast reinforces the notion that PROCEPT BioRobotics Corp. is not only overvalued but also struggling in the current market environment.