PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells $1,516,500.00 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $60.66, for a total value of $1,516,500.00. Following the completion of the transaction, the director now directly owns 139,363 shares of the company’s stock, valued at $8,453,759.58. This represents a 15.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, June 5th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $64.79, for a total value of $1,619,750.00.

PROCEPT BioRobotics Trading Down 3.3%

NASDAQ PRCT opened at $62.91 on Friday. The firm has a market capitalization of $3.48 billion, a P/E ratio of -32.26 and a beta of 1.10. The business has a fifty day simple moving average of $55.27 and a 200 day simple moving average of $68.30. 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.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same period last year, the firm posted ($0.51) EPS. The business’s revenue was up 55.5% compared to the same quarter last year. On average, analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently made changes to their positions in PRCT. Militia Capital Partners LP bought a new position in shares of PROCEPT BioRobotics during the 1st quarter worth $816,000. Osterweis Capital Management Inc. boosted its stake in PROCEPT BioRobotics by 98.0% in the 1st quarter. Osterweis Capital Management Inc. now owns 173,735 shares of the company’s stock worth $10,122,000 after purchasing an additional 85,990 shares during the period. Rhumbline Advisers boosted its stake in PROCEPT BioRobotics by 5.0% in the 1st quarter. Rhumbline Advisers now owns 64,373 shares of the company’s stock worth $3,750,000 after purchasing an additional 3,077 shares during the period. Intech Investment Management LLC boosted its position in shares of PROCEPT BioRobotics by 54.4% during the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock valued at $1,654,000 after acquiring an additional 10,002 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of PROCEPT BioRobotics by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after acquiring an additional 13,767 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).