Reza Zadno Sells 26,420 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total value of $2,584,668.60. Following the completion of the transaction, the chief executive officer now owns 179,185 shares in the company, valued at $17,529,668.55. The trade was a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, November 20th, Reza Zadno sold 26,420 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $92.57, for a total value of $2,445,699.40.
• 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 Stock Up 0.4 %

NASDAQ PRCT opened at $96.48 on Wednesday. PROCEPT BioRobotics Co. has a 1-year low of $36.52 and a 1-year high of $103.81. 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’s 50 day moving average is $84.56 and its two-hundred day moving average is $74.17. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of -49.48 and a beta of 0.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last released 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. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same period in the prior year, the company posted ($0.51) earnings per share. The business’s revenue for the quarter was up 66.4% compared to the same quarter last year. Equities analysts forecast that PROCEPT BioRobotics Co. will post -1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PRCT shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday. Morgan Stanley assumed coverage on shares of PROCEPT BioRobotics in a research report on Monday. They set an “overweight” rating and a $105.00 price objective for the company. TD Cowen lifted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Finally, Bank of America lifted their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.86.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors have recently added to or reduced their stakes in PRCT. Values First Advisors Inc. acquired a new stake in shares of PROCEPT BioRobotics during the third quarter worth approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in PROCEPT BioRobotics during the 2nd quarter valued at $36,000. Quest Partners LLC increased its holdings in PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after purchasing an additional 648 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in PROCEPT BioRobotics in the 3rd quarter valued at $64,000. Finally, Canton Hathaway LLC acquired a new position in PROCEPT BioRobotics in the third quarter worth $66,000. 89.46% of the stock is owned by 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).