PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 3.5%

PROCEPT BioRobotics Co. (NASDAQ:PRCT) rose 3.5% during trading on Monday . The company traded as high as $52.60 and last traded at $52.51. Approximately 165,939 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 483,769 shares. The stock had previously closed at $50.71.

Analysts Set New Price Targets

PRCT has been the topic of a number of research reports. Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Truist Financial upped their price objective on PROCEPT BioRobotics from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Buy” and a consensus price target of $45.60.

PROCEPT BioRobotics Trading Up 0.1 %

The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -23.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63. The firm has a fifty day moving average price of $49.01 and a 200-day moving average price of $41.59.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.10). The company had revenue of $43.58 million for the quarter, compared to analyst estimates of $41.79 million. PROCEPT BioRobotics had a negative return on equity of 46.59% and a negative net margin of 77.75%. The business’s revenue for the quarter was up 83.3% compared to the same quarter last year. During the same period last year, the company posted ($0.56) earnings per share. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -2 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the completion of the sale, the chief financial officer now directly owns 33,523 shares in the company, valued at approximately $1,676,150. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Alaleh Nouri sold 2,749 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $128,295.83. Following the completion of the sale, the executive vice president now directly owns 62,913 shares in the company, valued at approximately $2,936,149.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Waters sold 904 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now owns 33,523 shares of the company’s stock, valued at $1,676,150. The disclosure for this sale can be found here. Insiders sold a total of 94,149 shares of company stock worth $4,653,720 in the last ninety days. 19.60% of the stock is owned by insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several large investors have recently bought and sold shares of PRCT. FMR LLC raised its position in PROCEPT BioRobotics by 13.0% in the third quarter. FMR LLC now owns 7,553,460 shares of the company’s stock valued at $247,829,000 after purchasing an additional 870,364 shares during the last quarter. Wellington Management Group LLP bought a new position in PROCEPT BioRobotics in the third quarter valued at about $26,404,000. BlackRock Inc. raised its position in shares of PROCEPT BioRobotics by 36.1% during the second quarter. BlackRock Inc. now owns 2,580,126 shares of the company’s stock worth $91,207,000 after acquiring an additional 684,194 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of PROCEPT BioRobotics by 89.8% during the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock worth $44,144,000 after acquiring an additional 636,750 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of PROCEPT BioRobotics by 10.4% during the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock worth $133,697,000 after acquiring an additional 385,271 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).