Insider Selling: PROCEPT BioRobotics (NASDAQ:PRCT) Insider Sells $92,834.10 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) insider Pooja Sharma sold 4,710 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $19.71, for a total transaction of $92,834.10. Following the completion of the sale, the insider owned 106,471 shares in the company, valued at $2,098,543.41. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $20.62 on Monday. The stock has a market cap of $1.19 billion, a PE ratio of -10.21 and a beta of 0.88. The firm has a fifty day moving average price of $19.32 and a 200 day moving average price of $23.13. PROCEPT BioRobotics Corporation has a 1 year low of $16.67 and a 1 year high of $38.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.89 and a quick ratio of 4.73.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.07). The business had revenue of $98.29 million during the quarter, compared to analysts’ expectations of $100.52 million. PROCEPT BioRobotics had a negative net margin of 32.60% and a negative return on equity of 33.23%. PROCEPT BioRobotics’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.38) earnings per share. Equities research analysts predict that PROCEPT BioRobotics Corporation will post -1.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRCT. Versant Capital Management Inc grew its holdings in PROCEPT BioRobotics by 994.5% in the second quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock valued at $27,000 after purchasing an additional 1,084 shares during the period. Nykredit A S acquired a new position in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $27,000. Sterling Capital Management LLC raised its stake in shares of PROCEPT BioRobotics by 849.2% during the 3rd quarter. Sterling Capital Management LLC now owns 1,870 shares of the company’s stock worth $34,000 after buying an additional 1,673 shares during the period. Signaturefd LLC lifted its position in shares of PROCEPT BioRobotics by 162.7% during the 3rd quarter. Signaturefd LLC now owns 1,899 shares of the company’s stock valued at $35,000 after buying an additional 1,176 shares in the last quarter. Finally, Essential Partners LLC lifted its position in shares of PROCEPT BioRobotics by 7,071.4% during the 1st quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock valued at $50,000 after buying an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PRCT shares. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Thursday, October 15th. Jefferies Financial Group reiterated a “hold” rating and set a $20.00 price target on shares of PROCEPT BioRobotics in a research report on Wednesday, August 5th. Truist Financial boosted their price target on PROCEPT BioRobotics from $21.00 to $24.00 and gave the company a “hold” rating in a report on Friday. Piper Sandler upgraded PROCEPT BioRobotics to a “strong-buy” rating in a research report on Friday, October 16th. Finally, Barclays began coverage on shares of PROCEPT BioRobotics in a research note on Tuesday, October 6th. They set an “overweight” rating and a $30.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.25.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms. The company’s technology is designed to provide a minimally invasive alternative to conventional surgical procedures.

Its primary product is the AquaBeam Robotic System, which uses image guidance, robotic assistance and a high-velocity waterjet to remove targeted prostate tissue.