Reza Zadno Sells 288,461 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the transaction, the chief executive officer now owns 258,445 shares in the company, valued at approximately $23,518,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock traded down $3.03 on Thursday, hitting $90.00. 1,529,534 shares of the stock traded hands, compared to its average volume of 648,089. The company’s fifty day moving average is $77.20 and its 200 day moving average is $67.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49. PROCEPT BioRobotics Co. has a 1-year low of $24.91 and a 1-year high of $99.34. The company has a market capitalization of $4.67 billion, a PE ratio of -46.02 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. The company’s revenue for the quarter was up 66.4% compared to the same quarter last year. On average, equities research analysts predict that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PRCT shares. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday. Bank of America increased their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their price target 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 price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.40.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Values First Advisors Inc. acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of PROCEPT BioRobotics in the 2nd quarter worth approximately $36,000. Quest Partners LLC lifted its position in shares of PROCEPT BioRobotics by 2,492.3% during 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 last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of PROCEPT BioRobotics by 178.3% during 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 during the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in PROCEPT BioRobotics during the third quarter valued at about $120,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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).