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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 258,445 shares in the company, valued at $23,518,495. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

PROCEPT BioRobotics Stock Performance

PRCT traded down $3.03 during midday trading on Thursday, reaching $90.00. The company’s stock had a trading volume of 1,529,534 shares, compared to its average volume of 648,089. PROCEPT BioRobotics Co. has a twelve month low of $24.91 and a twelve month high of $99.34. The company has a fifty day simple moving average of $77.20 and a 200 day simple moving average of $67.91. The stock has a market cap of $4.67 billion, a P/E ratio of -46.02 and a beta of 1.03. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted 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 the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The business’s revenue was up 66.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.51) EPS. Research analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Large investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $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 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 worth $41,000 after buying an additional 648 shares during the period. Nisa Investment Advisors LLC grew its position in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after acquiring an additional 713 shares during the period. Finally, Sentry Investment Management LLC bought a new position in shares of PROCEPT BioRobotics during the third quarter valued at $120,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Bank of America increased their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday. Finally, TD Cowen boosted their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $88.40.

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).