PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Sells $2,584,668.60 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total transaction of $2,584,668.60. Following the sale, the chief executive officer now owns 179,185 shares of the company’s stock, valued at approximately $17,529,668.55. The trade was a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 20th, Reza Zadno sold 26,420 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $92.57, for a total transaction 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 transaction of $26,249,951.00.

PROCEPT BioRobotics Stock Up 0.5 %

Shares of PRCT stock traded up $0.47 during trading on Monday, reaching $96.06. The company’s stock had a trading volume of 583,280 shares, compared to its average volume of 654,405. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of -48.51 and a beta of 1.01. The stock’s 50-day moving average price is $83.90 and its 200 day moving average price is $73.77. PROCEPT BioRobotics Co. has a 1-year low of $36.52 and a 1-year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. The firm’s quarterly revenue was up 66.4% on a year-over-year basis. On average, research analysts anticipate that PROCEPT BioRobotics Co. will post -1.73 EPS for the current year.

Analysts Set New Price Targets

PRCT has been the subject of a number of recent analyst reports. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. TD Cowen lifted 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. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday. They set an “overweight” rating and a $105.00 price target for the company. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price target for the company. Finally, Bank of America lifted their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PROCEPT BioRobotics presently has an average rating of “Moderate Buy” and an average target price of $91.71.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRCT. Values First Advisors Inc. purchased a new position in PROCEPT BioRobotics in the third quarter worth approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in PROCEPT BioRobotics in the second quarter worth approximately $36,000. Quest Partners LLC lifted its position in shares of PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $64,000. Finally, Canton Hathaway LLC purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).