PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno Sells 26,420 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the completion of the sale, the chief executive officer now owns 205,605 shares in the company, valued at $19,032,854.85. The trade was a 11.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Reza Zadno also recently made the following trade(s):

• On Wednesday, October 30th, Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00.

PROCEPT BioRobotics Stock Down 0.9 %

Shares of PRCT stock traded down $0.85 on Friday, reaching $93.60. 350,050 shares of the company’s stock traded hands, compared to its average volume of 657,387. The company has a market capitalization of $4.88 billion, a P/E ratio of -48.71 and a beta of 1.01. PROCEPT BioRobotics Co. has a 12-month low of $33.45 and a 12-month high of $103.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The business’s 50 day moving average price is $82.16 and its two-hundred day moving average price is $72.24.

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

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics in the 3rd quarter worth about $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in PROCEPT BioRobotics in the second quarter worth approximately $36,000. Quest Partners LLC raised its position in PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after acquiring an additional 648 shares in the last quarter. Canton Hathaway LLC acquired a new stake in PROCEPT BioRobotics in the third quarter valued at approximately $66,000. Finally, Nisa Investment Advisors LLC grew its position in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after acquiring an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PRCT. 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. Bank of America boosted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. TD Cowen boosted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, PROCEPT BioRobotics presently has an average rating of “Moderate Buy” and an average price target of $89.50.

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).