PROCEPT BioRobotics Sees Unusually High Options Volume (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) was the target of unusually large options trading activity on Monday. Stock investors purchased 4,352 put options on the company. This is an increase of 1,092% compared to the average daily volume of 365 put options.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PRCT shares. TD Cowen boosted their target price on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Truist Financial upped their price target on shares of PROCEPT BioRobotics from $72.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Piper Sandler upped their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $62.60.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock traded down $1.81 during trading on Monday, reaching $60.06. 108,708 shares of the company’s stock traded hands, compared to its average volume of 549,258. The company has a market capitalization of $3.09 billion, a P/E ratio of -29.18 and a beta of 1.00. The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average is $65.12 and its 200 day moving average is $55.97. PROCEPT BioRobotics has a 1 year low of $24.83 and a 1 year high of $77.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.58 million. During the same period in the prior year, the company posted ($0.63) EPS. PROCEPT BioRobotics’s revenue was up 82.4% compared to the same quarter last year. Equities research analysts expect that PROCEPT BioRobotics will post -1.93 EPS for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 10,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $62.18, for a total value of $621,800.00. Following the completion of the sale, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $3,262,708.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $62.18, for a total value of $621,800.00. Following the transaction, the executive vice president now directly owns 52,472 shares in the company, valued at $3,262,708.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hisham Shiblaq sold 26,046 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $68.24, for a total transaction of $1,777,379.04. Following the completion of the transaction, the executive vice president now owns 55,860 shares in the company, valued at $3,811,886.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,478 shares of company stock valued at $5,515,482. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank lifted its stake in PROCEPT BioRobotics by 5.8% in the 4th quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock worth $243,000 after purchasing an additional 316 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in PROCEPT BioRobotics by 0.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock worth $2,971,000 after purchasing an additional 336 shares in the last quarter. Principal Financial Group Inc. lifted its stake in PROCEPT BioRobotics by 5.7% in the 4th quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock worth $444,000 after purchasing an additional 568 shares in the last quarter. ProShare Advisors LLC lifted its stake in PROCEPT BioRobotics by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock worth $358,000 after purchasing an additional 570 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in PROCEPT BioRobotics by 30.9% in the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after purchasing an additional 620 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

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).