Alaleh Nouri Sells 6,892 Shares of PROCEPT BioRobotics (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Alaleh Nouri sold 6,892 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $163,340.40. Following the sale, the executive vice president directly owned 114,264 shares in the company, valued at $2,708,056.80. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PROCEPT BioRobotics Trading Up 4.3%

Shares of PRCT stock traded up $1.04 during trading hours on Monday, hitting $25.26. 2,163,428 shares of the company’s stock traded hands, compared to its average volume of 1,640,943. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. PROCEPT BioRobotics Corporation has a 12 month low of $19.35 and a 12 month high of $66.85. The stock has a market cap of $1.42 billion, a PE ratio of -14.77 and a beta of 1.03. The stock’s 50 day simple moving average is $29.25 and its 200 day simple moving average is $32.93.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $76.38 million for the quarter, compared to the consensus estimate of $93.70 million. During the same period in the prior year, the business earned ($0.35) earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of PROCEPT BioRobotics by 436.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock valued at $29,000 after acquiring an additional 746 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in PROCEPT BioRobotics in the 3rd quarter valued at $30,000. Center for Financial Planning Inc. bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at $40,000. Vega Investment Solutions raised its holdings in PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after buying an additional 265 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of PROCEPT BioRobotics by 175.7% during 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. 89.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRCT. Morgan Stanley reduced their target price on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Leerink Partners decreased their price objective on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Oppenheimer reissued a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. TD Cowen decreased their price target on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Jefferies Financial Group downgraded PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.82.

PROCEPT BioRobotics Company Profile

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.