Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Sells 288,461 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $92.29 on Friday. The firm has a 50-day simple moving average of $77.39 and a 200-day simple moving average of $68.06. PROCEPT BioRobotics Co. has a fifty-two week low of $27.65 and a fifty-two week high of $99.34. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of -47.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.49 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The company had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm’s quarterly revenue was up 66.4% compared to the same quarter last year. During the same period last year, the company posted ($0.51) earnings per share. On average, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently modified their holdings of PRCT. Essex Investment Management Co. LLC boosted its holdings in shares of PROCEPT BioRobotics by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company’s stock valued at $6,489,000 after purchasing an additional 228 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $27,000. Arizona State Retirement System lifted its position in PROCEPT BioRobotics by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock worth $784,000 after acquiring an additional 350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PROCEPT BioRobotics by 4.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after purchasing an additional 408 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in PROCEPT BioRobotics by 11.7% in the 3rd quarter. Blue Trust Inc. now owns 4,441 shares of the company’s stock worth $356,000 after buying an additional 466 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analysts Set New Price Targets

PRCT has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. TD Cowen lifted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday. Wells Fargo & Company lifted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Bank of America boosted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Buy” and a consensus target price of $88.40.

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).