PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Sells $312,403.50 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $58.10 on Friday. PROCEPT BioRobotics Co. has a 1 year low of $45.56 and a 1 year high of $103.81. The firm has a 50 day moving average of $67.15 and a 200-day moving average of $78.32. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.18 billion, a P/E ratio of -29.79 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company restated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Truist Financial restated a “buy” rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Finally, Morgan Stanley cut their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.29.

Institutional Trading of PROCEPT BioRobotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raleigh Capital Management Inc. acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $32,000. Thematics Asset Management acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $46,000. Signaturefd LLC increased its holdings in shares of PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $58,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $64,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

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).