PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno Sells 5,475 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the sale, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock traded up $0.77 during midday trading on Wednesday, reaching $57.80. The company had a trading volume of 517,627 shares, compared to its average volume of 724,050. The stock has a fifty day simple moving average of $68.87 and a 200 day simple moving average of $78.75. PROCEPT BioRobotics Co. has a 1-year low of $45.56 and a 1-year high of $103.81. 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 company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -29.64 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on PRCT. Truist Financial reissued a “buy” rating and set a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. Morgan Stanley reduced their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.29.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several large investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company’s stock valued at $656,979,000 after acquiring an additional 866,328 shares during the last quarter. Vanguard Group Inc. increased its holdings in PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after purchasing an additional 297,075 shares during the last quarter. Alliancebernstein L.P. lifted its stake in PROCEPT BioRobotics by 14.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock valued at $141,110,000 after buying an additional 218,148 shares during the period. Wellington Management Group LLP boosted its stake in PROCEPT BioRobotics by 38.8% during the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock worth $120,051,000 after acquiring an additional 416,819 shares during the last quarter. Finally, State Street Corp increased its stake in PROCEPT BioRobotics by 5.9% in the third quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after purchasing an additional 66,175 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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).