PROCEPT BioRobotics (NASDAQ:PRCT) EVP Barry Templin Sells 358 Shares

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Barry Templin sold 358 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $28.48, for a total value of $10,195.84. Following the completion of the transaction, the executive vice president directly owned 68,953 shares in the company, valued at approximately $1,963,781.44. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock traded up $0.31 during trading on Wednesday, reaching $29.09. The company had a trading volume of 848,246 shares, compared to its average volume of 1,516,108. PROCEPT BioRobotics Corporation has a 52 week low of $19.35 and a 52 week high of $64.71. The firm’s 50-day simple moving average is $25.71 and its 200 day simple moving average is $28.39. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -15.98 and a beta of 0.85. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. During the same period in the prior year, the business posted ($0.45) earnings per share. PROCEPT BioRobotics’s revenue for the quarter was up 20.1% compared to the same quarter last year. Sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRCT has been the topic of a number of recent analyst reports. TD Cowen decreased their price target on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Truist Financial decreased their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wells Fargo & Company decreased their price target on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Bank of America cut PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $38.00 to $20.00 in a report on Thursday, February 26th. Finally, Jefferies Financial Group lowered PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its position in shares of PROCEPT BioRobotics by 436.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock valued at $29,000 after purchasing an additional 746 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at about $40,000. US Bancorp DE grew its position in shares of PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares in the last quarter. Cache Advisors LLC purchased a new position in shares of PROCEPT BioRobotics during the first quarter valued at about $42,000. Finally, Lazard Asset Management LLC grew its position in PROCEPT BioRobotics by 90.7% in the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock worth $98,000 after acquiring an additional 810 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.