Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Sells $41,824.98 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT opened at $58.10 on Friday. The firm has a fifty day moving average price of $67.15 and a 200-day moving average price of $78.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock has a market cap of $3.18 billion, a PE ratio of -29.79 and a beta of 1.05. PROCEPT BioRobotics Co. has a 1 year low of $45.56 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million during 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%. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently modified their holdings of PRCT. Westfield Capital Management Co. LP purchased a new stake in shares of PROCEPT BioRobotics in the third quarter worth $72,563,000. FMR LLC grew its stake in PROCEPT BioRobotics by 11.9% during the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock valued at $656,979,000 after acquiring an additional 866,328 shares in the last quarter. Perpetual Ltd purchased a new position in PROCEPT BioRobotics during the fourth quarter valued at $66,972,000. Wellington Management Group LLP grew its stake in PROCEPT BioRobotics by 38.8% during the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after acquiring an additional 416,819 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after acquiring an additional 347,330 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).