Barry Templin Sells 358 Shares of PROCEPT BioRobotics (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Barry Templin sold 358 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $28.48, for a total value of $10,195.84. Following the completion of the sale, the executive vice president directly owned 68,953 shares of the company’s stock, valued at approximately $1,963,781.44. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Stock Down 4.8%

Shares of PROCEPT BioRobotics stock opened at $27.69 on Friday. The stock has a 50-day moving average price of $25.83 and a 200 day moving average price of $28.38. The company has a market cap of $1.58 billion, a P/E ratio of -15.21 and a beta of 0.85. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics Corporation has a 1 year low of $19.35 and a 1 year high of $62.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The business had revenue of $83.13 million during the quarter, compared to analysts’ expectations of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.45) earnings per share. As a group, analysts expect that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

Several large investors have recently made changes to their positions in PRCT. Advisory Services Network LLC lifted its position in shares of PROCEPT BioRobotics by 1.3% in the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock worth $1,158,000 after acquiring an additional 250 shares during the period. Osaic Holdings Inc. lifted its position in shares of PROCEPT BioRobotics by 20.3% in the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock worth $115,000 after acquiring an additional 337 shares during the period. ProShare Advisors LLC lifted its position in shares of PROCEPT BioRobotics by 4.7% in the 4th quarter. ProShare Advisors LLC now owns 9,726 shares of the company’s stock worth $306,000 after acquiring an additional 438 shares during the period. California State Teachers Retirement System lifted its position in shares of PROCEPT BioRobotics by 1.4% in the 2nd quarter. California State Teachers Retirement System now owns 49,446 shares of the company’s stock worth $2,848,000 after acquiring an additional 693 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of PROCEPT BioRobotics by 436.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after acquiring an additional 746 shares during the period. Institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PRCT shares. Jefferies Financial Group downgraded PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. TD Cowen reduced their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Oppenheimer reissued a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. Robert W. Baird started coverage on PROCEPT BioRobotics in a research report on Friday, March 6th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.36.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.