PROCEPT BioRobotics (NASDAQ:PRCT) Trading Down 4.3% After Insider Selling

PROCEPT BioRobotics Co. (NASDAQ:PRCT)’s stock price dropped 4.3% during trading on Monday after an insider sold shares in the company. The company traded as low as $61.29 and last traded at $61.52. Approximately 446,692 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 536,495 shares. The stock had previously closed at $64.31.

Specifically, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the completion of the sale, the chief financial officer now owns 33,523 shares of the company’s stock, valued at $1,676,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the completion of the sale, the chief financial officer now owns 33,523 shares of the company’s stock, valued at $1,676,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alaleh Nouri sold 30,432 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total value of $1,916,303.04. Following the sale, the executive vice president now directly owns 62,472 shares of the company’s stock, valued at approximately $3,933,861.84. The disclosure for this sale can be found here. Insiders sold 144,581 shares of company stock valued at $7,770,023 over the last 90 days. 19.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PRCT shares. TD Cowen upped their price target on PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial upped their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Wells Fargo & Company upped their price target on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Finally, Piper Sandler upped their price target on PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $61.20.

PROCEPT BioRobotics Stock Down 4.5 %

The business has a 50-day simple moving average of $50.51 and a two-hundred day simple moving average of $44.06. The stock has a market capitalization of $3.16 billion, a P/E ratio of -28.98 and a beta of 0.95. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. The firm had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The business’s revenue was up 82.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.63) earnings per share. Equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.96 earnings per share for the current fiscal year.

Institutional Trading of PROCEPT BioRobotics

Large investors have recently made changes to their positions in the business. Fairman Group LLC bought a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $84,000. Blue Trust Inc. boosted its holdings in PROCEPT BioRobotics by 30.9% in the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after acquiring an additional 620 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new position in PROCEPT BioRobotics in the fourth quarter valued at about $138,000. Jump Financial LLC bought a new position in PROCEPT BioRobotics in the fourth quarter valued at about $201,000. Finally, Amalgamated Bank boosted its holdings in PROCEPT BioRobotics by 8.8% in the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock valued at $180,000 after acquiring an additional 442 shares during the last quarter. 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).