PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells $1,619,750.00 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.79, for a total value of $1,619,750.00. Following the completion of the transaction, the director now owns 89,363 shares of the company’s stock, valued at $5,789,828.77. The trade was a 21.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Antal Rohit Desai also recently made the following trade(s):

• On Tuesday, June 3rd, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $60.66, for a total value of $1,516,500.00.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $62.91 on Friday. The stock has a 50-day moving average price of $55.27 and a two-hundred day moving average price of $68.46. PROCEPT BioRobotics Co. has a 12-month low of $47.04 and a 12-month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.48 billion, a PE ratio of -32.26 and a beta of 1.10.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The company’s revenue was up 55.5% compared to the same quarter last year. As a group, research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on PRCT. Bank of America dropped their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Truist Financial dropped their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Morgan Stanley lowered their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd purchased a new stake in shares of PROCEPT BioRobotics in the first quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PROCEPT BioRobotics in the first quarter worth about $40,000. Thematics Asset Management purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth about $46,000. CWM LLC boosted its position in shares of PROCEPT BioRobotics by 69.5% in the first quarter. CWM LLC now owns 873 shares of the company’s stock worth $51,000 after buying an additional 358 shares during the period. Finally, Signaturefd LLC boosted its holdings in PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

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).