Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells 34,000 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 34,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total value of $3,243,260.00. Following the sale, the director now owns 164,363 shares of the company’s stock, valued at approximately $15,678,586.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, November 5th, Antal Rohit Desai sold 33,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $96.60, for a total value of $3,187,800.00.
• On Thursday, September 12th, Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37.
• On Tuesday, September 10th, Antal Rohit Desai sold 36,500 shares of PROCEPT BioRobotics stock. The shares were 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 shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85.
• On Tuesday, September 3rd, Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40.

PROCEPT BioRobotics Trading Up 3.0 %

Shares of PRCT opened at $99.07 on Friday. The firm has a market cap of $5.17 billion, a P/E ratio of -50.80 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a 1 year low of $29.71 and a 1 year high of $99.35. The company has a 50 day simple moving average of $79.43 and a two-hundred day simple moving average of $69.95.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The company had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm’s revenue was up 66.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.51) earnings per share. On average, equities analysts expect that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRCT has been the topic of several recent research reports. Bank of America raised their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. TD Cowen upped their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics currently has an average rating of “Buy” and a consensus price target of $88.40.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently bought and sold shares of PRCT. M&G Plc purchased a new position in shares of PROCEPT BioRobotics in the 2nd quarter worth $8,507,000. Federated Hermes Inc. grew its position in PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after acquiring an additional 162,785 shares in the last quarter. Nicholas Investment Partners LP bought a new stake in PROCEPT BioRobotics during the second quarter worth approximately $4,657,000. Vanguard Group Inc. increased its stake in PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after acquiring an additional 62,164 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in PROCEPT BioRobotics by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock valued at $358,000 after purchasing an additional 570 shares during the period. Institutional investors 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).