PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells $3,594,295.37 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 44,867 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the completion of the sale, the director now directly owns 197,453 shares in the company, valued at approximately $15,817,959.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, September 10th, Antal Rohit Desai sold 36,500 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $76.18, for a total transaction of $2,780,570.00.
• On Thursday, September 5th, Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $76.37, for a total value 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 value of $2,680,946.40.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $81.11 on Friday. PROCEPT BioRobotics Co. has a 1 year low of $24.83 and a 1 year high of $85.81. The stock has a market capitalization of $4.21 billion, a P/E ratio of -38.26 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The company’s fifty day moving average is $69.64 and its two-hundred day moving average is $61.38.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The company had revenue of $53.35 million for the quarter, compared to analyst estimates of $50.10 million. During the same quarter in the previous year, the company earned ($0.56) EPS. The firm’s revenue for the quarter was up 61.2% compared to the same quarter last year. On average, sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRCT. Bank of America boosted their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Truist Financial lifted their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company lifted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $74.17.

Institutional Trading of PROCEPT BioRobotics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH raised its position in shares of PROCEPT BioRobotics by 42.9% during the 4th quarter. Allianz Asset Management GmbH now owns 96,635 shares of the company’s stock worth $4,050,000 after purchasing an additional 28,999 shares during the last quarter. Point72 Europe London LLP boosted its position in PROCEPT BioRobotics by 30.5% during the fourth quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock worth $22,215,000 after acquiring an additional 123,800 shares during the last quarter. Vanguard Group Inc. raised its holdings in PROCEPT BioRobotics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock valued at $175,376,000 after acquiring an additional 109,694 shares during the last quarter. M&G Plc purchased a new stake in shares of PROCEPT BioRobotics in the second quarter valued at $8,507,000. Finally, Charles Schwab Investment Management Inc. increased its stake in PROCEPT BioRobotics by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,117 shares of the company’s stock valued at $14,045,000 after purchasing an additional 13,868 shares during the last quarter. 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).