PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Thomas M. Krummel Sells 20,000 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Thomas M. Krummel sold 20,000 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. Following the completion of the transaction, the director now owns 45,631 shares in the company, valued at $2,737,860. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PROCEPT BioRobotics Stock Up 4.2 %

PRCT opened at $64.31 on Monday. The stock’s 50 day simple moving average is $50.25 and its 200-day simple moving average is $43.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.44 and a current ratio of 8.52. PROCEPT BioRobotics Co. has a 1 year low of $24.83 and a 1 year high of $64.89.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million during the quarter, compared to analysts’ expectations of $41.58 million. During the same quarter in the prior year, the company posted ($0.63) EPS. The business’s revenue was up 82.4% on a year-over-year basis. On average, analysts expect that PROCEPT BioRobotics Co. will post -1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC lifted its holdings in shares of PROCEPT BioRobotics by 0.6% during the first quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock valued at $2,971,000 after acquiring an additional 336 shares during the period. SpiderRock Advisors LLC acquired a new position in PROCEPT BioRobotics in the first quarter valued at about $307,000. Principal Financial Group Inc. grew its stake in PROCEPT BioRobotics by 98.2% during the first quarter. Principal Financial Group Inc. now owns 20,983 shares of the company’s stock worth $1,037,000 after buying an additional 10,395 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in PROCEPT BioRobotics by 23.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 199,027 shares of the company’s stock worth $9,836,000 after buying an additional 37,179 shares during the last quarter. Finally, Diversified Trust Co grew its position in PROCEPT BioRobotics by 25.4% during the 1st quarter. Diversified Trust Co now owns 13,442 shares of the company’s stock worth $664,000 after acquiring an additional 2,725 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Truist Financial raised their target price on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $49.50.

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).