PROCEPT BioRobotics (NASDAQ:PRCT) EVP Kevin Waters Sells 6,721 Shares

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 6,721 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $159,287.70. Following the completion of the sale, the executive vice president directly owned 152,264 shares of the company’s stock, valued at approximately $3,608,656.80. This trade represents a 4.23% 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 this link.

PROCEPT BioRobotics Trading Up 4.3%

Shares of NASDAQ:PRCT traded up $1.04 during trading on Monday, reaching $25.26. 2,163,428 shares of the company were exchanged, compared to its average volume of 1,640,943. The firm has a market capitalization of $1.42 billion, a PE ratio of -14.77 and a beta of 1.03. The business’s fifty day simple moving average is $29.25 and its 200-day simple moving average is $32.93. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $66.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The firm had revenue of $76.38 million during the quarter, compared to analysts’ expectations of $93.70 million. During the same quarter in the previous year, the firm posted ($0.35) EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Wall Street Analyst Weigh In

PRCT has been the topic of a number of recent research reports. Truist Financial dropped their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Wall Street Zen downgraded PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Wells Fargo & Company lowered their price objective on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Piper Sandler dropped their target price on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. Eight investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.82.

Institutional Trading of PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently bought and sold shares of PRCT. Advisory Services Network LLC increased its holdings in shares of PROCEPT BioRobotics by 1.3% in the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock valued at $1,158,000 after acquiring an additional 250 shares during the period. Vega Investment Solutions lifted its stake in shares of PROCEPT BioRobotics by 52.0% during the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after purchasing an additional 265 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in PROCEPT BioRobotics by 0.3% during the third quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock valued at $4,368,000 after purchasing an additional 307 shares in the last quarter. RiverPark Advisors LLC grew its stake in PROCEPT BioRobotics by 22.5% in the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock valued at $101,000 after purchasing an additional 324 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in PROCEPT BioRobotics by 20.3% in the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock worth $115,000 after purchasing an additional 337 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

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.