Insider Buying: PROCEPT BioRobotics (NASDAQ:PRCT) Director Purchases $4,278,152.68 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Director Antal Rohit Desai purchased 167,246 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average cost of $25.58 per share, with a total value of $4,278,152.68. Following the completion of the transaction, the director owned 167,246 shares in the company, valued at $4,278,152.68. This trade represents a ∞ increase in their ownership of the stock. 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 Monday, March 9th, Antal Rohit Desai bought 98,699 shares of PROCEPT BioRobotics stock. The shares were acquired at an average price of $24.55 per share, with a total value of $2,423,060.45.
• On Friday, March 6th, Antal Rohit Desai purchased 160,317 shares of PROCEPT BioRobotics stock. The stock was bought at an average cost of $23.59 per share, for a total transaction of $3,781,878.03.

PROCEPT BioRobotics Stock Up 15.0%

PRCT stock opened at $27.80 on Thursday. The business has a 50 day moving average of $28.89 and a 200 day moving average of $32.68. The firm has a market cap of $1.57 billion, a PE ratio of -16.26 and a beta of 1.02. 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.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prosight Management LP increased its position in shares of PROCEPT BioRobotics by 1,692.4% during the 4th quarter. Prosight Management LP now owns 1,380,000 shares of the company’s stock valued at $43,415,000 after purchasing an additional 1,303,009 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of PROCEPT BioRobotics by 58.6% in the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock worth $122,052,000 after buying an additional 1,262,928 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in PROCEPT BioRobotics by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company’s stock valued at $102,919,000 after buying an additional 1,218,815 shares during the period. Chicago Capital LLC grew its position in PROCEPT BioRobotics by 175.7% during the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock valued at $55,992,000 after buying an additional 999,873 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in PROCEPT BioRobotics by 113.5% during the second quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company’s stock valued at $92,065,000 after buying an additional 849,792 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRCT has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Thursday, January 22nd. UBS Group assumed coverage on shares of PROCEPT BioRobotics in a report on Friday, December 12th. They issued a “buy” rating and a $62.00 price objective for the company. Oppenheimer reiterated a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. TD Cowen lowered their price target on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Morgan Stanley reduced their price objective on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Hold” and a consensus 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.