PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells $19,873.90 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 706 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $28.15, for a total transaction of $19,873.90. Following the transaction, the executive vice president directly owned 151,558 shares of the company’s stock, valued at $4,266,357.70. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kevin Waters also recently made the following trade(s):

• On Friday, March 6th, Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $23.70, for a total transaction of $159,287.70.

PROCEPT BioRobotics Price Performance

NASDAQ:PRCT traded down $0.49 during mid-day trading on Thursday, hitting $25.68. The company’s stock had a trading volume of 987,670 shares, compared to its average volume of 1,680,563. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $66.85. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -15.02 and a beta of 1.02. The stock has a fifty day moving average of $28.30 and a 200-day moving average of $32.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The business had revenue of $76.38 million for the quarter, compared to the consensus estimate of $93.70 million. During the same quarter in the prior year, the business earned ($0.35) EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on PRCT shares. Piper Sandler lowered their price target on PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Bank of America cut PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $38.00 to $20.00 in a report on Thursday, February 26th. Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Leerink Partners lowered their target price on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Finally, Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, PROCEPT BioRobotics has an average rating of “Hold” and an average target price of $40.82.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors have recently bought and sold shares of PRCT. Caitong International Asset Management Co. Ltd boosted its stake in PROCEPT BioRobotics by 436.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after purchasing an additional 746 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at $30,000. Center for Financial Planning Inc. acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at $40,000. Vega Investment Solutions raised its holdings in shares of PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after buying an additional 265 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after buying an additional 1,079 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

About PROCEPT BioRobotics

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.