Kevin Waters Sells 357 Shares of PROCEPT BioRobotics (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 357 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $28.48, for a total value of $10,167.36. Following the completion of the sale, the executive vice president owned 151,201 shares in the company, valued at approximately $4,306,204.48. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, March 17th, Kevin Waters sold 706 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $28.15, for a total value of $19,873.90.

PROCEPT BioRobotics Stock Performance

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

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

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. increased its position in PROCEPT BioRobotics by 58.6% during the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock worth $122,052,000 after buying an additional 1,262,928 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in PROCEPT BioRobotics by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company’s stock worth $102,919,000 after buying an additional 1,218,815 shares during the last quarter. Westfield Capital Management Co. LP increased its position in PROCEPT BioRobotics by 23.3% during the third quarter. Westfield Capital Management Co. LP now owns 1,970,147 shares of the company’s stock worth $70,315,000 after buying an additional 371,798 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of PROCEPT BioRobotics by 8.2% in the fourth quarter. Mackenzie Financial Corp now owns 1,573,405 shares of the company’s stock valued at $49,512,000 after purchasing an additional 118,971 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in shares of PROCEPT BioRobotics by 11.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,520,700 shares of the company’s stock valued at $47,841,000 after purchasing an additional 155,601 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen dropped their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Jefferies Financial Group lowered PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Truist Financial dropped their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Robert W. Baird assumed coverage on PROCEPT BioRobotics in a report on Friday, March 6th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.36.

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.