Kevin Waters Sells 733 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 733 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares of the company’s stock, valued at $6,161,966.46. The trade was a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $57.87 on Friday. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $67.72 and its 200-day moving average price is $78.46. PROCEPT BioRobotics Co. has a 52 week low of $45.56 and a 52 week high of $103.81. The stock has a market cap of $3.17 billion, a P/E ratio of -29.68 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. Equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.29.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds have recently bought and sold shares of the company. Raleigh Capital Management Inc. bought a new position in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $32,000. Thematics Asset Management bought a new position in PROCEPT BioRobotics in the 4th quarter valued at approximately $46,000. Signaturefd LLC lifted its position in PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after acquiring an additional 145 shares in the last quarter. IFP Advisors Inc bought a new position in PROCEPT BioRobotics in the 4th quarter valued at approximately $58,000. Finally, Arcadia Investment Management Corp MI bought a new position in PROCEPT BioRobotics in the 4th quarter valued at approximately $64,000. 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).