Insider Selling: PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells $83,182.95 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Alaleh Nouri sold 3,243 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $25.65, for a total transaction of $83,182.95. Following the completion of the sale, the executive vice president owned 111,021 shares of the company’s stock, valued at $2,847,688.65. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Alaleh Nouri also recently made the following trade(s):

• On Friday, March 6th, Alaleh Nouri sold 6,892 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $23.70, for a total value of $163,340.40.

PROCEPT BioRobotics Stock Performance

PRCT opened at $27.13 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The company has a market cap of $1.53 billion, a PE ratio of -15.87 and a beta of 1.02. The stock has a 50-day moving average of $28.71 and a 200-day moving average of $32.49. PROCEPT BioRobotics Corporation has a 52-week low of $19.35 and a 52-week high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share 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 during the quarter, compared to analyst estimates of $93.70 million. During the same quarter last year, the firm posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRCT. Leerink Partners lowered their target price on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Robert W. Baird began coverage on PROCEPT BioRobotics in a report on Friday, March 6th. They set a “neutral” rating and a $30.00 price target for the company. Piper Sandler lowered their price objective on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen lowered shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, Bank of America cut shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and cut their target price for the company from $38.00 to $20.00 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.82.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position 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 purchasing an additional 746 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in PROCEPT BioRobotics in the third quarter worth $30,000. Center for Financial Planning Inc. bought a new position in PROCEPT BioRobotics in the fourth quarter worth $40,000. Vega Investment Solutions boosted its stake 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 in the last quarter. Finally, US Bancorp DE increased its holdings in PROCEPT BioRobotics by 175.7% in the 3rd 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 period. Institutional investors and hedge funds own 89.46% of the company’s stock.

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.