PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells $10,195.84 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Barry Templin sold 358 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $28.48, for a total transaction of $10,195.84. Following the completion of the sale, the executive vice president owned 68,953 shares in the company, valued at approximately $1,963,781.44. The trade was a 0.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Trading Down 7.2%

Shares of PROCEPT BioRobotics stock opened at $25.70 on Friday. The company’s fifty day simple moving average is $25.84 and its 200-day simple moving average is $28.36. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -14.12 and a beta of 0.85. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics Corporation has a 1 year low of $19.35 and a 1 year high of $62.17.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The company had revenue of $83.13 million during the quarter, compared to analyst estimates of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.45) EPS. As a group, sell-side analysts expect that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in shares of PROCEPT BioRobotics by 58.6% in the 3rd quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock valued at $122,052,000 after purchasing an additional 1,262,928 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of PROCEPT BioRobotics by 59.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company’s stock valued at $102,919,000 after purchasing an additional 1,218,815 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of PROCEPT BioRobotics by 23.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,970,147 shares of the company’s stock valued at $70,315,000 after purchasing an additional 371,798 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of PROCEPT BioRobotics by 8.2% in the 4th quarter. Mackenzie Financial Corp now owns 1,573,405 shares of the company’s stock valued at $49,512,000 after purchasing an additional 118,971 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of PROCEPT BioRobotics by 11.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,520,700 shares of the company’s stock valued at $47,841,000 after purchasing an additional 155,601 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PRCT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Tuesday, April 21st. Truist Financial decreased their price target on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Leerink Partners downgraded shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $31.00 to $29.00 in a research note on Thursday. Jefferies Financial Group downgraded PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Robert W. Baird began coverage on PROCEPT BioRobotics in a report on Friday, March 6th. They set a “neutral” rating and a $30.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.36.

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.