PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai Sells 33,000 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $96.60, for a total value of $3,187,800.00. Following the transaction, the director now directly owns 231,363 shares of the company’s stock, valued at $22,349,665.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, November 7th, Antal Rohit Desai sold 34,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $95.39, for a total transaction of $3,243,260.00.
• 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 Tuesday, September 10th, Antal Rohit Desai sold 36,500 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.18, for a total value of $2,780,570.00.
• 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 stock was sold at an average price of $76.12, for a total transaction of $2,680,946.40.

PROCEPT BioRobotics Trading Down 2.0 %

Shares of NASDAQ:PRCT opened at $96.23 on Friday. The business has a 50 day moving average of $79.03 and a 200-day moving average of $69.62. The stock has a market cap of $5.02 billion, a PE ratio of -49.35 and a beta of 1.01. PROCEPT BioRobotics Co. has a 12-month low of $29.71 and a 12-month high of $99.34. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The company had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. PROCEPT BioRobotics’s revenue was up 66.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.51) earnings per share. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Truist Financial restated a “buy” rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. TD Cowen increased their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America raised 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, Piper Sandler reissued an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $88.40.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors have recently modified their holdings of the business. Values First Advisors Inc. bought a new position in PROCEPT BioRobotics in the 3rd quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of PROCEPT BioRobotics during the second quarter valued at $36,000. Quest Partners LLC lifted its holdings in shares of PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after purchasing an additional 648 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after purchasing an additional 713 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in PROCEPT BioRobotics in the third quarter valued at $120,000. Institutional investors and hedge funds 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).