Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Sells 733 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

PROCEPT BioRobotics Stock Up 1.4 %

Shares of NASDAQ PRCT traded up $0.77 during mid-day 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 company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -29.64 and a beta of 1.05. The stock has a fifty day moving average of $68.87 and a two-hundred day moving average of $78.75. PROCEPT BioRobotics Co. has a 12-month low of $45.56 and a 12-month high of $103.81.

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

Institutional Trading of PROCEPT BioRobotics

A number of institutional investors have recently bought and sold shares of PRCT. Westfield Capital Management Co. LP purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth about $72,563,000. FMR LLC increased its holdings in PROCEPT BioRobotics by 11.9% in the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after buying an additional 866,328 shares during the last quarter. Perpetual Ltd bought a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $66,972,000. Wellington Management Group LLP lifted its stake in PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after acquiring an additional 416,819 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after acquiring an additional 347,330 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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).