Kevin Waters Sells 25,000 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PROCEPT BioRobotics Stock Up 4.0 %

Shares of PRCT stock traded up $3.16 during trading hours on Wednesday, hitting $82.97. 554,077 shares of the company were exchanged, compared to its average volume of 592,032. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -39.14 and a beta of 1.03. PROCEPT BioRobotics Co. has a one year low of $24.83 and a one year high of $85.81. The business’s 50-day simple moving average is $70.28 and its two-hundred day simple moving average is $62.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.02. The company had revenue of $53.35 million for the quarter, compared to the consensus estimate of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company’s revenue for the quarter was up 61.2% on a year-over-year basis. During the same period last year, the firm posted ($0.56) EPS. Sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.88 EPS for the current fiscal year.

Analyst Ratings Changes

PRCT has been the subject of several analyst reports. Bank of America upped their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Truist Financial raised their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. TD Cowen boosted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Buy” and an average price target of $78.17.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blair William & Co. IL acquired a new stake in PROCEPT BioRobotics in the first quarter worth about $21,240,000. Artisan Partners Limited Partnership acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $15,533,000. Wellington Management Group LLP boosted its holdings in shares of PROCEPT BioRobotics by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after acquiring an additional 260,946 shares in the last quarter. Chicago Capital LLC acquired a new position in shares of PROCEPT BioRobotics during the second quarter valued at approximately $14,233,000. Finally, Federated Hermes Inc. raised its holdings in PROCEPT BioRobotics by 788.9% during the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after purchasing an additional 162,785 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Company Profile

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).