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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the completion of the sale, the chief executive officer now owns 205,605 shares of the company’s stock, valued at approximately $19,032,854.85. The trade was a 11.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 Stock Performance

Shares of PRCT stock opened at $93.60 on Friday. The company’s fifty day moving average price is $82.16 and its 200-day moving average price is $72.24. PROCEPT BioRobotics Co. has a 12 month low of $33.45 and a 12 month high of $103.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating 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 return on equity of 38.57% and a negative net margin of 50.07%. PROCEPT BioRobotics’s quarterly revenue was up 66.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share. Equities analysts expect that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. M&G Plc bought a new position in shares of PROCEPT BioRobotics in the second quarter worth about $8,507,000. Federated Hermes Inc. lifted its position in shares of PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after buying an additional 162,785 shares in the last quarter. Nicholas Investment Partners LP bought a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at approximately $4,657,000. Vanguard Group Inc. raised its stake in PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after purchasing an additional 62,164 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of PROCEPT BioRobotics by 290.2% in the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after buying an additional 51,030 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PRCT has been the subject of several analyst reports. TD Cowen increased their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Truist Financial reissued 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 upped their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Piper Sandler reiterated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Finally, Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and an average 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).