Barry Templin Sells 358 Shares of PROCEPT BioRobotics (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Barry Templin sold 358 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $28.48, for a total value of $10,195.84. Following the completion of the transaction, the executive vice president directly owned 68,953 shares of the company’s stock, valued at $1,963,781.44. This represents a 0.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Stock Up 1.1%

Shares of NASDAQ:PRCT traded up $0.31 during trading on Wednesday, hitting $29.09. The stock had a trading volume of 848,246 shares, compared to its average volume of 1,516,108. PROCEPT BioRobotics Corporation has a 12 month low of $19.35 and a 12 month high of $64.71. The company has a market capitalization of $1.66 billion, a PE ratio of -15.98 and a beta of 0.85. The firm’s fifty day moving average is $25.71 and its 200 day moving average is $28.39. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The firm had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. During the same period in the prior year, the company posted ($0.45) EPS. The firm’s revenue was up 20.1% on a year-over-year basis. Analysts anticipate that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC lifted its holdings in shares of 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 buying an additional 250 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of PROCEPT BioRobotics by 20.3% during the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after buying an additional 337 shares during the period. ProShare Advisors LLC lifted its holdings in shares of PROCEPT BioRobotics by 4.7% during the 4th quarter. ProShare Advisors LLC now owns 9,726 shares of the company’s stock valued at $306,000 after buying an additional 438 shares during the period. California State Teachers Retirement System lifted its holdings in shares of PROCEPT BioRobotics by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 49,446 shares of the company’s stock valued at $2,848,000 after buying an additional 693 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in PROCEPT BioRobotics by 436.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after purchasing an additional 746 shares during the period. 89.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird assumed coverage on PROCEPT BioRobotics in a research note on Friday, March 6th. They issued a “neutral” rating and a $30.00 price target on the stock. Leerink Partners cut their price target on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Truist Financial cut their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Wells Fargo & Company cut their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a research note 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 research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.45.

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.