PROCEPT BioRobotics (NASDAQ:PRCT) EVP Kevin Waters Sells 357 Shares

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 357 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $28.48, for a total value of $10,167.36. Following the completion of the transaction, the executive vice president owned 151,201 shares of the company’s stock, valued at $4,306,204.48. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kevin Waters also recently made the following trade(s):

• On Tuesday, March 17th, Kevin Waters sold 706 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $28.15, for a total transaction of $19,873.90.

PROCEPT BioRobotics Stock Up 1.1%

Shares of NASDAQ PRCT opened at $29.09 on Thursday. The company has a 50 day simple moving average of $25.78 and a 200 day simple moving average of $28.39. The firm has a market cap of $1.66 billion, a PE ratio of -15.98 and a beta of 0.85. PROCEPT BioRobotics Corporation has a 1 year low of $19.35 and a 1 year high of $64.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.73 and a quick ratio of 5.51.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). The business had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) EPS. On average, research analysts forecast that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its position in shares of PROCEPT BioRobotics by 436.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after acquiring an additional 746 shares in the last quarter. Center for Financial Planning Inc. bought a new position in shares of PROCEPT BioRobotics in the 4th quarter worth about $40,000. US Bancorp DE raised its position in shares of PROCEPT BioRobotics by 175.7% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after acquiring an additional 1,079 shares in the last quarter. Cache Advisors LLC bought a new position in shares of PROCEPT BioRobotics in the 1st quarter worth about $42,000. Finally, Lazard Asset Management LLC raised its position in shares of PROCEPT BioRobotics by 90.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock worth $98,000 after acquiring an additional 810 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PRCT. Jefferies Financial Group lowered PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research report on Thursday, April 30th. TD Cowen lowered their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Finally, Bank of America lowered shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $38.00 to $20.00 in a report on Thursday, February 26th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Hold” and a consensus target price of $41.45.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.