PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Sells $2,445,699.40 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of the stock in a transaction dated Wednesday, November 20th. The stock was 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 directly owns 205,605 shares in the company, valued at $19,032,854.85. This trade represents a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 value of $26,249,951.00.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $93.60 on Friday. PROCEPT BioRobotics Co. has a 1-year low of $33.45 and a 1-year high of $103.81. The business has a 50-day moving average price of $82.16 and a 200 day moving average price of $72.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

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

Institutional Trading of PROCEPT BioRobotics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Westfield Capital Management Co. LP bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $72,563,000. Chicago Capital LLC acquired a new stake in PROCEPT BioRobotics in the second quarter valued at approximately $14,233,000. Federated Hermes Inc. boosted its stake in PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after acquiring an additional 162,785 shares in the last quarter. Transatlantique Private Wealth LLC purchased a new position in PROCEPT BioRobotics in the second quarter worth $9,164,000. Finally, Point72 DIFC Ltd acquired a new position in shares of PROCEPT BioRobotics during the third quarter worth $11,890,000. Institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

PRCT has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Bank of America upped their price target 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. TD Cowen lifted their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

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).