Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Sells $2,062,750.00 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

PROCEPT BioRobotics Trading Up 2.7 %

Shares of NASDAQ:PRCT opened at $84.99 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The stock’s 50-day moving average is $71.24 and its 200-day moving average is $62.55. The company has a market cap of $4.37 billion, a P/E ratio of -40.09 and a beta of 1.03. PROCEPT BioRobotics Co. has a 52-week low of $24.83 and a 52-week high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The company had revenue of $53.35 million for the quarter, compared to the consensus estimate of $50.10 million. During the same period in the previous year, the business posted ($0.56) EPS. The company’s revenue for the quarter was up 61.2% on a year-over-year basis. Equities research analysts predict that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently bought and sold shares of PRCT. Vanguard Group Inc. increased its holdings in shares of PROCEPT BioRobotics by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after purchasing an additional 62,164 shares during the period. Wellington Management Group LLP increased its stake in PROCEPT BioRobotics by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after acquiring an additional 260,946 shares during the period. Bellevue Group AG increased its stake in PROCEPT BioRobotics by 0.5% during the first quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after acquiring an additional 4,768 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in PROCEPT BioRobotics by 8.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock valued at $31,027,000 after acquiring an additional 51,305 shares in the last quarter. Finally, Point72 Europe London LLP lifted its position in shares of PROCEPT BioRobotics by 30.5% in the 4th quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock worth $22,215,000 after acquiring an additional 123,800 shares during the period. 89.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on PRCT. Bank of America boosted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. TD Cowen raised their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Truist Financial upped their price target on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics has an average rating of “Buy” and an average target price of $78.17.

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).