Reza Zadno Sells 26,420 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the transaction, the chief executive officer now owns 205,605 shares in the company, valued at approximately $19,032,854.85. This trade represents a 11.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Reza Zadno also recently made the following trade(s):

• On Wednesday, October 30th, Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00.

PROCEPT BioRobotics Trading Down 0.9 %

Shares of NASDAQ:PRCT opened at $93.60 on Friday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 12-month low of $33.45 and a 12-month high of $103.81. The business has a 50 day moving average of $82.41 and a two-hundred day moving average of $72.46. The company has a market capitalization of $4.88 billion, a PE ratio of -48.00 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $53.30 million. During the same period in the prior year, the firm posted ($0.51) earnings per share. The firm’s quarterly revenue was up 66.4% compared to the same quarter last year. As a group, analysts forecast that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently modified their holdings of the business. Values First Advisors Inc. acquired a new stake in PROCEPT BioRobotics in the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at approximately $36,000. Quest Partners LLC grew its stake in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after acquiring an additional 648 shares during the period. Canton Hathaway LLC purchased a new stake in PROCEPT BioRobotics in the 3rd quarter worth $66,000. Finally, Nisa Investment Advisors LLC increased its holdings in PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after acquiring an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. TD Cowen lifted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Bank of America raised their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PROCEPT BioRobotics has an average rating of “Moderate Buy” and a consensus price target of $89.50.

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).