PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Sells $312,403.50 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 5,475 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at $9,875,374.20. The trade was a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

PROCEPT BioRobotics Stock Up 0.1 %

Shares of PRCT opened at $57.87 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a 1 year low of $45.56 and a 1 year high of $103.81. The stock has a 50 day simple moving average of $67.72 and a two-hundred day simple moving average of $78.46. The firm 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. On average, analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on PRCT shares. Truist Financial reaffirmed a “buy” rating and issued a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Morgan Stanley cut their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.29.

Institutional Trading of PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently bought and sold shares of PRCT. Westfield Capital Management Co. LP bought a new stake in PROCEPT BioRobotics in the third quarter valued at approximately $72,563,000. FMR LLC raised its holdings in shares of PROCEPT BioRobotics by 11.9% during the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock valued at $656,979,000 after acquiring an additional 866,328 shares in the last quarter. Perpetual Ltd bought a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $66,972,000. Wellington Management Group LLP raised its holdings in shares of PROCEPT BioRobotics by 38.8% during the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after acquiring an additional 416,819 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after acquiring an additional 347,330 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

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).