Reza Zadno Sells 5,475 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PROCEPT BioRobotics Trading Up 0.1 %

Shares of PROCEPT BioRobotics stock opened at $57.87 on Friday. 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 stock has a market capitalization of $3.17 billion, a P/E ratio of -29.68 and a beta of 1.05. PROCEPT BioRobotics Co. has a 52-week low of $45.56 and a 52-week high of $103.81. The stock’s 50-day simple moving average is $67.72 and its 200 day simple moving average is $78.46.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The company had revenue of $68.24 million for the quarter, compared to analysts’ expectations of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PRCT. Raleigh Capital Management Inc. purchased a new position in PROCEPT BioRobotics during the 4th quarter valued at about $32,000. Thematics Asset Management purchased a new position in PROCEPT BioRobotics during the 4th quarter valued at about $46,000. Signaturefd LLC grew its holdings in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter worth about $58,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics during the third quarter worth about $64,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PRCT shares. Morgan Stanley lowered their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial restated a “buy” rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.29.

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).