PROCEPT BioRobotics (NASDAQ:PRCT) Stock: Insider Pooja Sharma Sells 4,710 Shares

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) insider Pooja Sharma sold 4,710 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $19.71, for a total transaction of $92,834.10. Following the completion of the sale, the insider owned 106,471 shares in the company, valued at $2,098,543.41. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Stock Performance

Shares of PRCT traded up $0.35 during trading hours on Friday, reaching $20.62. 1,850,317 shares of the company traded hands, compared to its average volume of 1,511,420. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.35 and a current ratio of 6.55. The stock’s fifty day moving average is $19.32 and its 200 day moving average is $23.18. PROCEPT BioRobotics Corporation has a 1-year low of $16.67 and a 1-year high of $38.11. The stock has a market cap of $1.18 billion, a P/E ratio of -10.21 and a beta of 0.88.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, November 4th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). PROCEPT BioRobotics had a negative return on equity of 32.71% and a negative net margin of 32.60%. The firm had revenue of $98.29 million for the quarter, compared to analyst estimates of $100.52 million. During the same period last year, the business earned ($0.38) earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Center for Financial Planning Inc. boosted its stake in PROCEPT BioRobotics by 59.6% in the 1st quarter. Center for Financial Planning Inc. now owns 2,040 shares of the company’s stock valued at $51,000 after buying an additional 762 shares in the last quarter. Versant Capital Management Inc raised its stake in PROCEPT BioRobotics by 70.3% during the third quarter. Versant Capital Management Inc now owns 2,032 shares of the company’s stock worth $37,000 after acquiring an additional 839 shares in the last quarter. Signaturefd LLC raised its stake in PROCEPT BioRobotics by 162.7% during the third quarter. Signaturefd LLC now owns 1,899 shares of the company’s stock worth $35,000 after acquiring an additional 1,176 shares in the last quarter. Nykredit A S bought a new position in shares of PROCEPT BioRobotics during the second quarter valued at $27,000. Finally, Parallel Advisors LLC boosted its stake in shares of PROCEPT BioRobotics by 51.8% in the 3rd quarter. Parallel Advisors LLC now owns 3,656 shares of the company’s stock valued at $67,000 after purchasing an additional 1,247 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRCT shares. Jefferies Financial Group reissued a “hold” rating and set a $20.00 price objective on shares of PROCEPT BioRobotics in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Thursday, October 15th. Robert W. Baird set a $20.00 target price on PROCEPT BioRobotics in a research note on Wednesday, August 5th. Truist Financial raised their target price on PROCEPT BioRobotics from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company downgraded shares of PROCEPT BioRobotics from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Hold” and a consensus price target of $25.25.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms. The company’s technology is designed to provide a minimally invasive alternative to conventional surgical procedures.

Its primary product is the AquaBeam Robotic System, which uses image guidance, robotic assistance and a high-velocity waterjet to remove targeted prostate tissue.