PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells $3,243,260.00 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 34,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $95.39, for a total value of $3,243,260.00. Following the sale, the director now owns 164,363 shares in the company, valued at approximately $15,678,586.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, November 5th, Antal Rohit Desai sold 33,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $96.60, for a total transaction of $3,187,800.00.
• On Thursday, September 12th, Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37.
• On Tuesday, September 10th, Antal Rohit Desai sold 36,500 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.18, for a total transaction of $2,780,570.00.
• On Thursday, September 5th, Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85.
• On Tuesday, September 3rd, Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40.

PROCEPT BioRobotics Price Performance

NASDAQ:PRCT opened at $96.23 on Friday. The company has a market cap of $5.02 billion, a P/E ratio of -49.35 and a beta of 1.01. The firm’s fifty day moving average price is $79.03 and its two-hundred day moving average price is $69.62. PROCEPT BioRobotics Co. has a one year low of $29.71 and a one year high of $99.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the prior year, the firm earned ($0.51) EPS. The business’s revenue was up 66.4% on a year-over-year basis. Equities analysts expect that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Truist Financial restated a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, TD Cowen upped their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $88.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in PROCEPT BioRobotics during the 3rd quarter worth $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth $36,000. Quest Partners LLC increased its position in shares of PROCEPT BioRobotics by 2,492.3% in the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after purchasing an additional 648 shares during the period. Nisa Investment Advisors LLC raised its stake in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after purchasing an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new stake in PROCEPT BioRobotics during the third quarter worth about $120,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Company Profile

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).