Antal Rohit Desai Sells 36,500 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 36,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $76.18, for a total transaction of $2,780,570.00. Following the completion of the transaction, the director now directly owns 281,018 shares of the company’s stock, valued at approximately $21,407,951.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Antal Rohit Desai also recently made the following trade(s):

• On Thursday, September 12th, Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37.
• On Thursday, September 5th, Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85.
• On Tuesday, September 3rd, Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.12, for a total transaction of $2,680,946.40.

PROCEPT BioRobotics Trading Up 2.9 %

NASDAQ PRCT traded up $2.28 on Thursday, hitting $80.39. 546,709 shares of the stock were exchanged, compared to its average volume of 593,112. The firm has a market capitalization of $4.13 billion, a P/E ratio of -38.27 and a beta of 1.03. PROCEPT BioRobotics Co. has a 52-week low of $24.83 and a 52-week high of $85.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The stock has a fifty day moving average price of $68.97 and a two-hundred day moving average price of $61.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.02. The firm had revenue of $53.35 million during the quarter, compared to the consensus estimate of $50.10 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm’s quarterly revenue was up 61.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.56) earnings per share. Research analysts forecast that PROCEPT BioRobotics Co. will post -1.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PRCT shares. Truist Financial upped their price target on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America increased their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Buy” and a consensus price target of $74.17.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently bought and sold shares of the company. Allianz Asset Management GmbH raised its stake in PROCEPT BioRobotics by 42.9% in the 4th quarter. Allianz Asset Management GmbH now owns 96,635 shares of the company’s stock valued at $4,050,000 after purchasing an additional 28,999 shares during the last quarter. Point72 Europe London LLP raised its position in shares of PROCEPT BioRobotics by 30.5% during the 4th quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock worth $22,215,000 after acquiring an additional 123,800 shares in the last quarter. Vanguard Group Inc. increased its position in PROCEPT BioRobotics by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock worth $175,376,000 after buying an additional 109,694 shares during the period. M&G Plc purchased a new position in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $8,507,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of PROCEPT BioRobotics by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,117 shares of the company’s stock valued at $14,045,000 after buying an additional 13,868 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).