PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 4.6% – What’s Next?

PROCEPT BioRobotics Co. (NASDAQ:PRCT)’s share price traded up 4.6% during trading on Monday . The stock traded as high as $65.14 and last traded at $65.14. 464,736 shares traded hands during trading, a decline of 45% from the average session volume of 847,644 shares. The stock had previously closed at $62.25.

Analyst Upgrades and Downgrades

PRCT has been the topic 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 note on Wednesday, October 30th. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Morgan Stanley began coverage on shares of PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.86.

PROCEPT BioRobotics Trading Up 4.8 %

The business’s 50-day moving average is $76.53 and its two-hundred day moving average is $79.99. 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 has a market capitalization of $3.40 billion, a PE ratio of -33.22 and a beta of 1.03.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 26,420 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total value of $2,584,668.60. Following 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,935 shares of company stock worth $7,882,089. 17.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently made changes to their positions in the business. Raleigh Capital Management Inc. acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth approximately $32,000. Thematics Asset Management acquired a new position in PROCEPT BioRobotics during the 4th quarter worth $46,000. Signaturefd LLC increased its position in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth about $58,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of PROCEPT BioRobotics during the third quarter worth about $64,000. 89.46% of the stock is owned by institutional investors and hedge funds.

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).