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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Kevin Waters also recently made the following trade(s):

• On Monday, September 16th, Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00.

PROCEPT BioRobotics Trading Down 0.2 %

Shares of PRCT stock opened at $68.95 on Friday. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics Co. has a 12-month low of $24.83 and a 12-month high of $85.81. The stock has a market capitalization of $3.58 billion, a P/E ratio of -33.47 and a beta of 1.03. The firm’s 50 day moving average is $75.48 and its 200 day moving average is $66.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.02. The firm had revenue of $53.35 million for the quarter, compared to the consensus estimate of $50.10 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The company’s revenue for the quarter was up 61.2% on a year-over-year basis. During the same period last year, the business posted ($0.56) EPS. Research analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRCT. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. TD Cowen upped their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America upped their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Truist Financial increased their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $86.40.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of PROCEPT BioRobotics by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after buying an additional 62,164 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PROCEPT BioRobotics by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock worth $44,663,000 after acquiring an additional 260,946 shares during the last quarter. Bellevue Group AG grew its position in shares of PROCEPT BioRobotics by 0.5% during the 1st quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after acquiring an additional 4,768 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of PROCEPT BioRobotics by 8.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock worth $31,027,000 after purchasing an additional 51,305 shares in the last quarter. Finally, Blair William & Co. IL bought a new position in PROCEPT BioRobotics in the 1st quarter worth $21,240,000. 89.46% of the stock is currently 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).