PROCEPT BioRobotics (NASDAQ:PRCT) EVP Kevin Waters Sells 706 Shares of Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 706 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $28.15, for a total transaction of $19,873.90. Following the transaction, the executive vice president directly owned 151,558 shares in the company, valued at approximately $4,266,357.70. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Kevin Waters also recently made the following trade(s):

• On Friday, March 6th, Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $23.70, for a total transaction of $159,287.70.

PROCEPT BioRobotics Stock Up 0.6%

PROCEPT BioRobotics stock traded up $0.15 during mid-day trading on Friday, reaching $25.83. 118,148 shares of the company were exchanged, compared to its average volume of 1,651,929. 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 firm has a market cap of $1.46 billion, a P/E ratio of -15.09 and a beta of 1.02. The business has a fifty day moving average of $28.13 and a 200 day moving average of $32.17. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The company had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. Research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRCT has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Thursday, January 22nd. Truist Financial decreased their price objective on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Bank of America cut shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $38.00 to $20.00 in a report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.82.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently bought and sold shares of PRCT. Advisory Services Network LLC lifted its stake in PROCEPT BioRobotics by 1.3% during the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock valued at $1,158,000 after acquiring an additional 250 shares during the period. Vega Investment Solutions increased its stake in shares of PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after acquiring an additional 265 shares during the period. Frank Rimerman Advisors LLC raised its holdings in shares of PROCEPT BioRobotics by 0.3% during the third quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock worth $4,368,000 after purchasing an additional 307 shares during the last quarter. RiverPark Advisors LLC lifted its position in PROCEPT BioRobotics by 22.5% during the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock valued at $101,000 after purchasing an additional 324 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in PROCEPT BioRobotics by 20.3% in the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after purchasing an additional 337 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

About PROCEPT BioRobotics

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.