Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells 34,000 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 34,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total value of $3,243,260.00. Following the completion of the transaction, the director now directly owns 164,363 shares in the company, valued at $15,678,586.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, November 5th, Antal Rohit Desai sold 33,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $96.60, for a total value of $3,187,800.00.
• On Thursday, September 12th, Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $80.11, for a total value of $3,594,295.37.
• On Tuesday, September 10th, Antal Rohit Desai sold 36,500 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $76.18, for a total value of $2,780,570.00.
• On Thursday, September 5th, Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85.
• On Tuesday, September 3rd, Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $76.12, for a total transaction of $2,680,946.40.

PROCEPT BioRobotics Price Performance

PRCT opened at $99.07 on Friday. The stock has a fifty day moving average price of $79.43 and a 200 day moving average price of $70.06. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 1 year low of $29.71 and a 1 year high of $99.35. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of -50.80 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same period in the previous year, the company earned ($0.51) EPS. The firm’s revenue was up 66.4% on a year-over-year basis. Analysts forecast that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Analysts Set New Price Targets

PRCT has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. TD Cowen lifted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Bank of America increased their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Finally, Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $88.40.

Institutional Trading of PROCEPT BioRobotics

Large investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC raised its holdings in shares of PROCEPT BioRobotics by 0.3% during 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 in the last quarter. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics during the third quarter worth $27,000. Arizona State Retirement System raised its holdings in PROCEPT BioRobotics by 2.8% during the second quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after buying an additional 350 shares in the last quarter. KBC Group NV lifted its position in shares of PROCEPT BioRobotics by 32.6% in the third quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $123,000 after buying an additional 376 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after acquiring an additional 408 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

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).