Kevin Waters Sells 25,000 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

by · The Markets Daily

PROCEPT BioRobotics Co. (NASDAQ:PRCT – Get Free Report) CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PROCEPT BioRobotics Trading Down 0.2 %

PRCT opened at $82.79 on Friday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -39.05 and a beta of 1.03. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $85.81. The stock has a fifty day moving average price of $70.92 and a 200-day moving average price of $62.29.

PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last released 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. The firm had revenue of $53.35 million during the quarter, compared to analyst estimates of $50.10 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The business’s revenue for the quarter was up 61.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.56) EPS. As a group, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Amalgamated Bank raised its position in shares of PROCEPT BioRobotics by 5.8% in the 4th quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock worth $243,000 after acquiring an additional 316 shares in the last quarter. Essex Investment Management Co. LLC increased its position in PROCEPT BioRobotics by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock valued at $2,971,000 after buying an additional 336 shares in the last quarter. Arizona State Retirement System increased its position in PROCEPT BioRobotics by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after buying an additional 350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock valued at $606,000 after buying an additional 408 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in PROCEPT BioRobotics by 5.7% during the 4th quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock valued at $444,000 after buying an additional 568 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRCT has been the subject of a number of recent analyst reports. Truist Financial boosted their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America upped their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen upped their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wells Fargo & Company upped their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Seven 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 an average target price of $78.17.

Get Our Latest Analysis on PRCT

PROCEPT BioRobotics Company Profile

(Get Free Report)

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).

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