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 stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PROCEPT BioRobotics Stock Up 1.4 %

PROCEPT BioRobotics stock opened at $57.80 on Thursday. PROCEPT BioRobotics Co. has a 12 month low of $45.56 and a 12 month high of $103.81. The stock has a market capitalization of $3.17 billion, a PE ratio of -29.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business has a 50 day simple moving average of $68.87 and a 200-day simple moving average of $78.75.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share 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 for the quarter, compared to analyst estimates of $66.79 million. On average, analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $32,000. Thematics Asset Management acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at $46,000. Signaturefd LLC raised its stake in PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares during the last quarter. IFP Advisors Inc acquired a new stake in PROCEPT BioRobotics during the 4th quarter worth $58,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $64,000. 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).