Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) EVP Sells 28,092 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the sale, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

PROCEPT BioRobotics Price Performance

Shares of PRCT traded up $1.23 during midday trading on Friday, reaching $94.84. The stock had a trading volume of 403,796 shares, compared to its average volume of 652,267. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The company has a market capitalization of $4.95 billion, a P/E ratio of -48.01 and a beta of 0.99. The firm’s 50 day moving average price is $85.25 and its 200-day moving average price is $74.48. PROCEPT BioRobotics Co. has a 52 week low of $36.99 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The company had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business’s revenue was up 66.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) EPS. On average, analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRCT shares. Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. TD Cowen upped their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. 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 report on Thursday, August 22nd. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective for the company. Finally, Wells Fargo & Company restated an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.86.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently bought and sold shares of the company. Values First Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $36,000. Quest Partners LLC grew its position in 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 acquiring an additional 648 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $64,000. Finally, Canton Hathaway LLC acquired a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $66,000. 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).