PROCEPT BioRobotics (NASDAQ:PRCT) Reaches New 12-Month High – Here’s What Happened

by · The Markets Daily

PROCEPT BioRobotics Co. (NASDAQ:PRCT – Get Free Report)’s share price reached a new 52-week high on Friday . The company traded as high as $99.35 and last traded at $99.07, with a volume of 741263 shares. The stock had previously closed at $96.23.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PRCT. Piper Sandler reiterated an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Wells Fargo & Company increased their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Bank of America raised their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, 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, September 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $88.40.

Read Our Latest Stock Analysis on PROCEPT BioRobotics

PROCEPT BioRobotics Stock Up 3.0 %

The business has a fifty day simple moving average of $79.03 and a two-hundred day simple moving average of $69.62. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business posted ($0.51) EPS. The firm’s quarterly revenue was up 66.4% on a year-over-year basis. Analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 34,000 shares of PROCEPT BioRobotics stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total value of $3,243,260.00. Following the transaction, the director now directly owns 164,363 shares of the company’s stock, valued at approximately $15,678,586.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Antal Rohit Desai sold 34,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total value of $3,243,260.00. Following the completion of the transaction, the director now directly owns 164,363 shares of the company’s stock, valued at $15,678,586.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares in the company, valued at approximately $23,518,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,353 shares of company stock valued at $46,627,426 over the last 90 days. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of large investors have recently bought and sold shares of PRCT. Vanguard Group Inc. boosted its holdings 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 valued at $209,874,000 after acquiring an additional 62,164 shares during the last quarter. Bellevue Group AG raised its stake in shares of PROCEPT BioRobotics by 0.5% during the 1st 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of 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 buying an additional 51,305 shares during the period. Blair William & Co. IL acquired a new position in shares of PROCEPT BioRobotics in the 1st quarter valued at about $21,240,000. Finally, Driehaus Capital Management LLC boosted its stake in shares of PROCEPT BioRobotics by 25.9% in the second quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock worth $21,344,000 after buying an additional 71,930 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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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