PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters Sells 25,000 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kevin Waters also recently made the following trade(s):

• On Monday, September 16th, Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00.

PROCEPT BioRobotics Stock Down 4.7 %

Shares of NASDAQ PRCT opened at $69.08 on Friday. The firm’s 50-day moving average price is $75.33 and its 200-day moving average price is $66.06. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -32.58 and a beta of 1.03. PROCEPT BioRobotics Co. has a 12-month low of $24.83 and a 12-month high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.02. The firm had revenue of $53.35 million for the quarter, compared to analysts’ expectations of $50.10 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 61.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.56) EPS. On average, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on PRCT shares. TD Cowen lifted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America increased their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Truist Financial raised their price target on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $86.40.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently added to or reduced their stakes in PRCT. Blair William & Co. IL bought a new position in PROCEPT BioRobotics during the 1st quarter valued at about $21,240,000. Wellington Management Group LLP grew its holdings in PROCEPT BioRobotics by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after purchasing an additional 260,946 shares during the last quarter. Chicago Capital LLC bought a new position in PROCEPT BioRobotics during the 2nd quarter valued at about $14,233,000. Federated Hermes Inc. grew its holdings in PROCEPT BioRobotics by 788.9% during the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after purchasing an additional 162,785 shares during the last quarter. Finally, Transatlantique Private Wealth LLC bought a new position in PROCEPT BioRobotics in the 2nd quarter worth about $9,164,000. 89.46% of the stock is currently 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).