Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) EVP Sells 247 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) EVP Hisham Shiblaq sold 247 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $14,093.82. Following the completion of the transaction, the executive vice president now owns 63,133 shares in the company, valued at $3,602,368.98. The trade was a 0.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $57.87 on Friday. PROCEPT BioRobotics Co. has a 12 month low of $45.56 and a 12 month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The business’s 50 day simple moving average is $67.72 and its 200 day simple moving average is $78.46. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -29.68 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 38.57% and a negative net margin of 50.07%. Sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On PROCEPT BioRobotics

Institutional investors have recently made changes to their positions in the stock. Raleigh Capital Management Inc. purchased a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $32,000. Thematics Asset Management purchased a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $46,000. Signaturefd LLC lifted its position 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 acquiring an additional 145 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $58,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of PROCEPT BioRobotics during the third quarter worth $64,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).