PROCEPT BioRobotics (NASDAQ:PRCT) Trading 5.5% Higher

PROCEPT BioRobotics Co. (NASDAQ:PRCT)’s share price rose 5.5% during trading on Monday . The stock traded as high as $80.92 and last traded at $80.85. Approximately 47,842 shares traded hands during trading, a decline of 92% from the average daily volume of 590,959 shares. The stock had previously closed at $76.60.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PRCT shares. Truist Financial upped their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America lifted their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $74.17.

PROCEPT BioRobotics Trading Up 0.3 %

The firm has a 50 day moving average of $68.41 and a 200 day moving average of $60.71. The firm has a market cap of $3.96 billion, a PE ratio of -36.29 and a beta of 1.03. The company has a quick ratio of 6.49, a current ratio of 7.51 and a debt-to-equity ratio of 0.20.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm had revenue of $53.35 million for the quarter, compared to analysts’ expectations of $50.10 million. During the same quarter in the prior year, the firm earned ($0.56) EPS. The business’s revenue for the quarter was up 61.2% compared to the same quarter last year. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Alaleh Nouri sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $62.18, for a total value of $621,800.00. Following the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at $3,262,708.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Alaleh Nouri sold 10,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $62.18, for a total value of $621,800.00. Following the completion of the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $3,262,708.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the sale, the director now owns 317,518 shares in the company, valued at $24,248,849.66. The disclosure for this sale can be found here. Insiders sold 58,525 shares of company stock worth $4,318,849 over the last quarter. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank increased its holdings in PROCEPT BioRobotics by 4.6% during the 4th quarter. Swiss National Bank now owns 88,100 shares of the company’s stock worth $3,692,000 after acquiring an additional 3,900 shares during the period. Amalgamated Bank increased its holdings in shares of PROCEPT BioRobotics by 5.8% in the fourth quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock worth $243,000 after purchasing an additional 316 shares during the period. M&T Bank Corp raised its position in shares of PROCEPT BioRobotics by 17.8% in the fourth quarter. M&T Bank Corp now owns 10,513 shares of the company’s stock worth $441,000 after buying an additional 1,591 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PROCEPT BioRobotics by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,117 shares of the company’s stock valued at $14,045,000 after buying an additional 13,868 shares during the period. Finally, Jump Financial LLC purchased a new position in PROCEPT BioRobotics during the fourth quarter worth about $201,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).