PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters Sells 733 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 733 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares of the company’s stock, valued at $6,161,966.46. This represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock traded up $0.77 during midday trading on Wednesday, hitting $57.80. The company had a trading volume of 517,627 shares, compared to its average volume of 724,050. PROCEPT BioRobotics Co. has a 1-year low of $45.56 and a 1-year high of $103.81. The business’s 50 day simple moving average is $68.87 and its two-hundred day simple moving average is $78.75. The stock has a market cap of $3.17 billion, a PE ratio of -29.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. As a group, equities analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PRCT shares. Morgan Stanley cut their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial restated a “buy” rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.29.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCT. Raleigh Capital Management Inc. acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $32,000. Thematics Asset Management bought a new position in PROCEPT BioRobotics in the fourth quarter worth $46,000. Signaturefd LLC boosted its stake in PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after buying an additional 145 shares in the last quarter. IFP Advisors Inc bought a new stake in PROCEPT BioRobotics in the 4th quarter valued at $58,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at $64,000. 89.46% of the stock is currently owned by institutional investors.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).