Insider Buying: PROCEPT BioRobotics (NASDAQ:PRCT) Director Purchases $2,423,060.45 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Director Antal Rohit Desai bought 98,699 shares of PROCEPT BioRobotics stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $24.55 per share, for a total transaction of $2,423,060.45. Following the purchase, the director directly owned 426,262 shares in the company, valued at approximately $10,464,732.10. The trade was a 30.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, March 6th, Antal Rohit Desai acquired 160,317 shares of PROCEPT BioRobotics stock. The stock was acquired at an average price of $23.59 per share, for a total transaction of $3,781,878.03.
• On Thursday, March 5th, Antal Rohit Desai acquired 167,246 shares of PROCEPT BioRobotics stock. The stock was acquired at an average cost of $25.58 per share, for a total transaction of $4,278,152.68.

PROCEPT BioRobotics Stock Performance

PRCT stock opened at $27.80 on Thursday. PROCEPT BioRobotics Corporation has a twelve month low of $19.35 and a twelve month high of $66.85. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.57 billion, a P/E ratio of -16.26 and a beta of 1.02. The business’s fifty day moving average is $28.89 and its 200-day moving average is $32.68.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The company had revenue of $76.38 million for the quarter, compared to analyst estimates of $93.70 million. During the same period last year, the firm earned ($0.35) earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in PROCEPT BioRobotics by 436.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after acquiring an additional 746 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in shares of PROCEPT BioRobotics in the third quarter worth $30,000. Center for Financial Planning Inc. acquired a new position in PROCEPT BioRobotics during the fourth quarter worth $40,000. Vega Investment Solutions boosted its holdings in PROCEPT BioRobotics by 52.0% during the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after purchasing an additional 265 shares during the last quarter. Finally, US Bancorp DE grew its position in PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PRCT shares. Jefferies Financial Group downgraded PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Thursday, January 22nd. Piper Sandler dropped their target price on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Wall Street Zen lowered shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.82.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.