Insider Selling: PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells 3,243 Shares of Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Alaleh Nouri sold 3,243 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $25.65, for a total value 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. The trade was a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

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

PROCEPT BioRobotics Price Performance

NASDAQ PRCT traded down $1.73 on Thursday, reaching $26.07. 1,278,156 shares of the company’s stock traded hands, compared to its average volume of 1,693,463. The stock has a market cap of $1.47 billion, a PE ratio of -15.24 and a beta of 1.02. PROCEPT BioRobotics Corporation has a 12 month low of $19.35 and a 12 month high of $66.85. The stock has a 50-day simple moving average of $28.89 and a 200 day simple moving average of $32.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm posted ($0.35) earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, research analysts predict that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

PRCT has been the subject of several analyst reports. Wall Street Zen lowered shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Piper Sandler dropped their price target on PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Leerink Partners lowered their price objective on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. TD Cowen lowered their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, UBS Group initiated coverage on PROCEPT BioRobotics in a research report on Friday, December 12th. They issued a “buy” rating and a $62.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, PROCEPT BioRobotics presently has an average rating of “Hold” and a consensus price target of $40.82.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its position in PROCEPT BioRobotics by 436.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after buying an additional 746 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at approximately $30,000. Center for Financial Planning Inc. purchased a new stake in PROCEPT BioRobotics in the 4th quarter worth approximately $40,000. Vega Investment Solutions raised its stake in PROCEPT BioRobotics by 52.0% during the 2nd 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. Finally, US Bancorp DE lifted its holdings in PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

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.