Investors Purchase High Volume of Call Options on PROCEPT BioRobotics (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) saw some unusual options trading activity on Monday. Investors bought 1,915 call options on the company. This represents an increase of 186% compared to the typical daily volume of 670 call options.

PROCEPT BioRobotics Trading Up 6.2 %

Shares of PRCT traded up $5.65 during mid-day trading on Tuesday, reaching $96.65. The company’s stock had a trading volume of 1,537,147 shares, compared to its average volume of 634,084. PROCEPT BioRobotics has a 52 week low of $24.83 and a 52 week high of $96.89. The stock has a market cap of $5.02 billion, a PE ratio of -46.43 and a beta of 1.03. The company’s fifty day moving average price is $76.37 and its two-hundred day moving average price is $67.41. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same period in the previous year, the firm posted ($0.51) earnings per share. The firm’s revenue for the quarter was up 66.4% on a year-over-year basis. On average, analysts predict that PROCEPT BioRobotics will post -1.88 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the transaction, the director now directly owns 317,518 shares in the company, valued at approximately $24,248,849.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Antal Rohit Desai sold 13,305 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the transaction, the director now directly owns 317,518 shares in the company, valued at approximately $24,248,849.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,892 shares of company stock worth $13,946,415. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of PROCEPT BioRobotics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock worth $175,376,000 after purchasing an additional 109,694 shares during the last quarter. M&G Plc purchased a new position in shares of PROCEPT BioRobotics in the second quarter valued at about $8,507,000. Federated Hermes Inc. raised its stake in shares of PROCEPT BioRobotics by 788.9% during the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after acquiring an additional 162,785 shares during the last quarter. Nicholas Investment Partners LP bought a new position in shares of PROCEPT BioRobotics during the second quarter valued at about $4,657,000. Finally, ProShare Advisors LLC boosted its holdings in shares of PROCEPT BioRobotics by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock worth $358,000 after purchasing an additional 570 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRCT. Piper Sandler restated an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Wells Fargo & Company raised their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America boosted 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. TD Cowen raised their price objective 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. Finally, Truist Financial upped their target price on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $86.40.

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).