PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells $1,537,250.00 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the sale, the director now directly owns 14,363 shares in the company, valued at $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, June 10th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00.
• On Thursday, June 5th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The stock was 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 Down 0.9%

Shares of NASDAQ PRCT opened at $60.63 on Friday. 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 capitalization of $3.35 billion, a price-to-earnings ratio of -31.09 and a beta of 1.10. The stock has a 50 day moving average price of $56.22 and a 200 day moving average price of $67.11. PROCEPT BioRobotics Co. has a 52-week low of $47.04 and a 52-week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced 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%. PROCEPT BioRobotics’s quarterly revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.51) earnings per share. Sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on PRCT. Morgan Stanley cut their target price 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 raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. Truist Financial cut their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Bank of America cut their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Institutional Trading of PROCEPT BioRobotics

Hedge funds have recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd purchased a new stake in PROCEPT BioRobotics during the first quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in PROCEPT BioRobotics during the first quarter worth $40,000. Thematics Asset Management purchased a new stake in PROCEPT BioRobotics during the fourth quarter worth $46,000. CWM LLC increased its position in shares of PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company’s stock worth $51,000 after purchasing an additional 358 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares in 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).