Hisham Shiblaq Sells 247 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) EVP Hisham Shiblaq sold 247 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $14,093.82. Following the completion of the sale, the executive vice president now owns 63,133 shares in the company, valued at $3,602,368.98. The trade was a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $58.10 on Friday. PROCEPT BioRobotics Co. has a 52-week low of $45.56 and a 52-week high of $103.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The business’s 50 day moving average price is $67.15 and its two-hundred day moving average price is $78.32. The firm has a market cap of $3.18 billion, a PE ratio of -29.79 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. On average, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently modified their holdings of PRCT. Westfield Capital Management Co. LP acquired a new position in shares of PROCEPT BioRobotics during the third quarter worth approximately $72,563,000. FMR LLC raised its position in shares of PROCEPT BioRobotics by 11.9% during the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after purchasing an additional 866,328 shares during the period. Perpetual Ltd acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter worth approximately $66,972,000. Wellington Management Group LLP raised its position in shares of PROCEPT BioRobotics by 38.8% during the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock worth $120,051,000 after purchasing an additional 416,819 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after purchasing an additional 347,330 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRCT has been the topic of several analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial reiterated a “buy” rating and issued a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. Finally, Morgan Stanley dropped their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.29.

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).