PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Sells $1,811,750.00 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 16th, Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00.

PROCEPT BioRobotics Stock Down 0.2 %

PRCT stock opened at $68.95 on Friday. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $85.81. The business’s 50 day moving average price is $75.48 and its two-hundred day moving average price is $66.35. 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 company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -32.52 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $53.35 million for the quarter, compared to analysts’ expectations of $50.10 million. During the same period in the previous year, the firm posted ($0.56) EPS. The business’s revenue for the quarter was up 61.2% compared to the same quarter last year. As a group, analysts forecast that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PRCT. 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 report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. TD Cowen boosted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Truist Financial boosted their price target on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company boosted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $86.40.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of PROCEPT BioRobotics by 1.5% in 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 in the last quarter. Wellington Management Group LLP lifted its position in PROCEPT BioRobotics by 32.4% in the 4th 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 in the last quarter. Bellevue Group AG lifted its position in PROCEPT BioRobotics by 0.5% in the 1st 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position 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, Blair William & Co. IL bought a new position in PROCEPT BioRobotics in the 1st quarter valued at approximately $21,240,000. 89.46% of the stock is owned by institutional investors.

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).