PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells $159,287.70 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 6,721 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $159,287.70. Following the sale, the executive vice president owned 152,264 shares in the company, valued at approximately $3,608,656.80. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

PROCEPT BioRobotics Trading Up 15.0%

NASDAQ:PRCT opened at $27.80 on Thursday. The company has a market cap of $1.57 billion, a PE ratio of -16.26 and a beta of 1.02. The company has a current ratio of 6.85, a quick ratio of 5.77 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 company has a 50 day simple moving average of $28.89 and a two-hundred day simple moving average of $32.68.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly 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 business had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PRCT shares. TD Cowen decreased their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Robert W. Baird initiated coverage on shares of PROCEPT BioRobotics in a research note on Friday, March 6th. They issued a “neutral” rating and a $30.00 price target on the stock. Bank of America lowered PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $38.00 to $20.00 in a research report on Thursday, February 26th. Wells Fargo & Company reduced their price objective on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Finally, Morgan Stanley lowered their price target on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Hold” and a consensus price target of $40.82.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. DNB Asset Management AS purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $1,132,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of PROCEPT BioRobotics in the second quarter worth about $5,892,000. Lisanti Capital Growth LLC purchased a new stake in shares of PROCEPT BioRobotics in the second quarter worth about $2,532,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in PROCEPT BioRobotics by 109.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 159,874 shares of the company’s stock worth $9,209,000 after acquiring an additional 83,498 shares during the period. Finally, Chicago Capital LLC grew its holdings in PROCEPT BioRobotics by 175.7% during the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after acquiring an additional 999,873 shares during the period. Hedge funds and other institutional investors 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.