PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells $139,223.48 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Alaleh Nouri sold 5,363 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $25.96, for a total value of $139,223.48. Following the completion of the sale, the executive vice president directly owned 105,354 shares in the company, valued at approximately $2,734,989.84. The trade was a 4.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Alaleh Nouri also recently made the following trade(s):

• On Tuesday, March 17th, Alaleh Nouri sold 304 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $28.15, for a total value of $8,557.60.
• On Tuesday, March 10th, Alaleh Nouri sold 3,243 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $25.65, for a total value of $83,182.95.
• On Friday, March 6th, Alaleh Nouri sold 6,892 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $23.70, for a total value of $163,340.40.

PROCEPT BioRobotics Trading Down 1.9%

PRCT traded down $0.49 during mid-day trading on Thursday, hitting $25.68. 987,670 shares of the stock were exchanged, compared to its average volume of 1,680,564. The firm’s fifty day moving average is $28.30 and its two-hundred day moving average is $32.21. PROCEPT BioRobotics Corporation has a 1-year low of $19.35 and a 1-year high of $66.85. The company has a market cap of $1.45 billion, a PE ratio of -15.02 and a beta of 1.02. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The firm had revenue of $76.38 million during the quarter, compared to analyst estimates of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. Equities analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PRCT shares. Jefferies Financial Group lowered shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Robert W. Baird initiated coverage on PROCEPT BioRobotics in a research report on Friday, March 6th. They set a “neutral” rating and a $30.00 price objective on the stock. Bank of America cut PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Truist Financial decreased their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Wells Fargo & Company lowered their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Hold” and an average target price of $40.82.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of large investors have recently modified their holdings of PRCT. DNB Asset Management AS purchased a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $1,132,000. Chicago Capital LLC lifted its stake in PROCEPT BioRobotics by 175.7% during the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after purchasing an additional 999,873 shares during the last quarter. C WorldWide Group Holding A S purchased a new stake in PROCEPT BioRobotics during the third quarter worth approximately $5,354,000. Granite Investment Partners LLC acquired a new position in PROCEPT BioRobotics in the second quarter valued at approximately $8,159,000. Finally, Peregrine Capital Management LLC acquired a new position in PROCEPT BioRobotics in the third quarter valued at approximately $6,718,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.