PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters Sells 25,000 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 25,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the sale, the chief financial officer now owns 96,096 shares in the company, valued at $7,928,880.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock opened at $82.97 on Thursday. PROCEPT BioRobotics Co. has a one year low of $24.83 and a one year high of $85.81. The stock’s fifty day moving average is $70.63 and its 200 day moving average is $62.14. The stock has a market cap of $4.31 billion, a P/E ratio of -39.14 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.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, topping 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 analysts’ expectations of $50.10 million. During the same period last year, the firm earned ($0.56) EPS. PROCEPT BioRobotics’s revenue for the quarter was up 61.2% compared to the same quarter last year. Sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PRCT shares. TD Cowen raised their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial raised their price target on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company raised their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America raised their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $78.17.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors have recently bought and sold shares of the stock. Blair William & Co. IL bought a new stake in PROCEPT BioRobotics during the first quarter valued at about $21,240,000. Artisan Partners Limited Partnership bought a new stake in PROCEPT BioRobotics during the fourth quarter valued at about $15,533,000. Wellington Management Group LLP raised its holdings in PROCEPT BioRobotics by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after acquiring an additional 260,946 shares during the period. Chicago Capital LLC bought a new stake in PROCEPT BioRobotics during the second quarter valued at about $14,233,000. Finally, Federated Hermes Inc. raised its holdings in PROCEPT BioRobotics by 788.9% during the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after acquiring an additional 162,785 shares during the period. 89.46% of the stock is owned by institutional investors.

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).