Reza Zadno Sells 26,420 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total value of $2,445,699.40. Following the sale, the chief executive officer now owns 205,605 shares of the company’s stock, valued at approximately $19,032,854.85. This trade represents a 11.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Reza Zadno also recently made the following trade(s):

• On Wednesday, October 30th, Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock traded down $0.85 during trading hours on Friday, hitting $93.60. The stock had a trading volume of 350,050 shares, compared to its average volume of 657,387. The company has a 50-day moving average of $82.16 and a two-hundred day moving average of $72.24. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a fifty-two week low of $33.45 and a fifty-two week high of $103.81. The company has a market cap of $4.88 billion, a PE ratio of -48.71 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping 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 firm had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same period last year, the business earned ($0.51) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 66.4% compared to the same quarter last year. On average, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Bank of America increased their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Wells Fargo & Company boosted 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. Truist Financial reaffirmed 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. Finally, TD Cowen upped their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.50.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently modified their holdings of PRCT. Vanguard Group Inc. increased its position 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 in the last quarter. State Street Corp raised its position in PROCEPT BioRobotics by 5.9% in the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after purchasing an additional 66,175 shares during the last quarter. Geode Capital Management LLC boosted its stake in PROCEPT BioRobotics by 8.2% in the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock worth $88,678,000 after purchasing an additional 84,244 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of PROCEPT BioRobotics during the third quarter worth $72,563,000. Finally, Bellevue Group AG raised its holdings in shares of PROCEPT BioRobotics by 0.5% in the first quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after buying an additional 4,768 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

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).