Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Sells 26,420 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the sale, the chief executive officer now directly owns 205,605 shares of the company’s stock, valued at approximately $19,032,854.85. This represents a 11.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Reza Zadno also recently made the following trade(s):

• On Wednesday, October 30th, Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $93.60 on Friday. 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 company has a market capitalization of $4.88 billion, a price-to-earnings ratio of -48.00 and a beta of 1.01. The company’s 50 day simple moving average is $82.41 and its 200-day simple moving average is $72.46. PROCEPT BioRobotics Co. has a 1 year low of $33.45 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the prior year, the firm earned ($0.51) earnings per share. The firm’s revenue was up 66.4% compared to the same quarter last year. As a group, equities research analysts expect that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors have recently bought and sold shares of the company. Westfield Capital Management Co. LP acquired a new stake in shares of PROCEPT BioRobotics during the third quarter worth about $72,563,000. Chicago Capital LLC acquired a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $14,233,000. Federated Hermes Inc. boosted its position in PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after buying an additional 162,785 shares during the period. Transatlantique Private Wealth LLC purchased a new position in PROCEPT BioRobotics in the 2nd quarter valued at approximately $9,164,000. Finally, Point72 DIFC Ltd acquired a new position in shares of PROCEPT BioRobotics in the third quarter worth $11,890,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRCT. Bank of America boosted their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. TD Cowen upped their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

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).