PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai Sells 25,000 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the transaction, the director now directly owns 14,363 shares of the company’s stock, valued at $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Antal Rohit Desai also recently made the following trade(s):

• On Tuesday, June 10th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $63.91, for a total transaction of $1,597,750.00.
• On Thursday, June 5th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $64.79, for a total transaction of $1,619,750.00.
• On Tuesday, June 3rd, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $60.66, for a total transaction of $1,516,500.00.

PROCEPT BioRobotics Stock Performance

PRCT opened at $60.63 on Friday. PROCEPT BioRobotics Co. has a 12-month low of $47.04 and a 12-month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.35 billion, a PE ratio of -31.09 and a beta of 1.10. The firm has a 50 day moving average of $56.22 and a two-hundred day moving average of $67.31.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same period last year, the firm posted ($0.51) EPS. PROCEPT BioRobotics’s revenue for the quarter was up 55.5% compared to the same quarter last year. On average, analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PRCT shares. Bank of America decreased their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Truist Financial decreased their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Morgan Stanley decreased their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Wall Street Zen raised shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently bought and sold shares of PRCT. ANTIPODES PARTNERS Ltd purchased a new position in PROCEPT BioRobotics during the 1st quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PROCEPT BioRobotics during the 1st quarter worth approximately $40,000. Thematics Asset Management acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $46,000. CWM LLC grew its stake in shares of PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company’s stock worth $51,000 after purchasing an additional 358 shares during the period. Finally, Signaturefd LLC grew its stake in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).