PROCEPT BioRobotics (NASDAQ:PRCT) Issues Earnings Results

PROCEPT BioRobotics (NASDAQ:PRCT) posted its quarterly earnings data on Tuesday. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01), Zacks reports. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%.

PROCEPT BioRobotics Price Performance

PRCT traded down $2.44 on Tuesday, reaching $62.71. The stock had a trading volume of 1,560,435 shares, compared to its average volume of 901,199. The firm has a 50-day moving average of $76.05 and a 200-day moving average of $80.01. PROCEPT BioRobotics has a fifty-two week low of $45.20 and a fifty-two week high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -32.16 and a beta of 1.03.

Insider Buying and Selling

In other news, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the transaction, the executive vice president now owns 52,472 shares in the company, valued at approximately $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reza Zadno sold 26,423 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total value of $2,568,844.06. Following the transaction, the chief executive officer now directly owns 152,762 shares in the company, valued at $14,851,521.64. The trade was a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,935 shares of company stock worth $7,882,089 in the last ninety days. Company insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

PRCT has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price target for the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial reissued a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Finally, Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and an average price target of $97.86.

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).