PROCEPT BioRobotics Sees Unusually High Options Volume (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) was the target of some unusual options trading activity on Monday. Stock traders bought 4,352 put options on the company. This represents an increase of approximately 1,092% compared to the typical volume of 365 put options.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial upped their price objective on shares of PROCEPT BioRobotics from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Piper Sandler increased their target price on PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, TD Cowen increased their target price on PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Buy” and an average price target of $62.60.

Insider Activity at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 30,432 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $62.97, for a total value of $1,916,303.04. Following the completion of the sale, the executive vice president now owns 62,472 shares in the company, valued at approximately $3,933,861.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Hisham Shiblaq sold 26,046 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $68.24, for a total value of $1,777,379.04. Following the completion of the sale, the executive vice president now owns 55,860 shares in the company, valued at approximately $3,811,886.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alaleh Nouri sold 30,432 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the completion of the sale, the executive vice president now 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 a total of 86,478 shares of company stock worth $5,515,482 in the last quarter. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of large investors have recently modified their holdings of PRCT. Vanguard Group Inc. boosted its stake in shares of PROCEPT BioRobotics by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock worth $133,697,000 after buying an additional 385,271 shares during the last quarter. SG Americas Securities LLC lifted its stake in PROCEPT BioRobotics by 254.7% in the 4th quarter. SG Americas Securities LLC now owns 11,873 shares of the company’s stock valued at $498,000 after purchasing an additional 8,526 shares during the last quarter. Blue Trust Inc. lifted its stake in PROCEPT BioRobotics by 30.9% in the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after purchasing an additional 620 shares during the last quarter. Glass Jacobson Investment Advisors llc acquired a new stake in PROCEPT BioRobotics in the 4th quarter valued at about $138,000. Finally, Ballentine Partners LLC acquired a new stake in PROCEPT BioRobotics in the 4th quarter valued at about $5,574,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Down 2.9 %

PRCT stock traded down $1.81 during trading hours on Monday, reaching $60.06. 108,708 shares of the stock were exchanged, compared to its average volume of 549,258. The firm’s 50-day moving average is $65.12 and its 200-day moving average is $55.97. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -29.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.52 and a quick ratio of 7.44. PROCEPT BioRobotics has a 12 month low of $24.83 and a 12 month high of $77.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million during the quarter, compared to the consensus estimate of $41.58 million. During the same period in the prior year, the business posted ($0.63) EPS. The company’s quarterly revenue was up 82.4% on a year-over-year basis. On average, equities research analysts expect that PROCEPT BioRobotics will post -1.93 earnings per share for the current year.

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).