PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai Sells 25,000 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the sale, the director now directly owns 64,363 shares of the company’s stock, valued at $4,113,439.33. The trade was a 27.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, June 12th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00.
• 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.
• 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 Stock Performance

Shares of NASDAQ PRCT opened at $60.63 on Friday. The stock has a fifty day moving average price of $56.22 and a two-hundred day moving average price of $67.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The firm has a market cap of $3.35 billion, a P/E ratio of -31.09 and a beta of 1.10. PROCEPT BioRobotics Co. has a 1 year low of $47.04 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period last year, the company posted ($0.51) EPS. Research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently modified their holdings of PRCT. Allspring Global Investments Holdings LLC boosted its stake in shares of PROCEPT BioRobotics by 218.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock worth $33,350,000 after acquiring an additional 275,071 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of PROCEPT BioRobotics by 5.6% during the 4th quarter. Rhumbline Advisers now owns 61,296 shares of the company’s stock worth $4,936,000 after acquiring an additional 3,242 shares in the last quarter. Americana Partners LLC boosted its stake in shares of PROCEPT BioRobotics by 26.1% during the 4th quarter. Americana Partners LLC now owns 23,525 shares of the company’s stock worth $1,894,000 after acquiring an additional 4,875 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of PROCEPT BioRobotics by 137.1% during the 4th quarter. Principal Financial Group Inc. now owns 162,713 shares of the company’s stock worth $13,102,000 after acquiring an additional 94,096 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of PROCEPT BioRobotics by 30.6% during the 4th quarter. New York State Common Retirement Fund now owns 189,154 shares of the company’s stock worth $15,231,000 after acquiring an additional 44,324 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

About PROCEPT BioRobotics

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).