PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Down 4.3% Following Insider Selling

PROCEPT BioRobotics Co. (NASDAQ:PRCT)’s share price fell 4.3% during mid-day trading on Monday following insider selling activity. The stock traded as low as $61.29 and last traded at $61.52. 446,692 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 536,495 shares. The stock had previously closed at $64.31.

Specifically, EVP Alaleh Nouri sold 30,432 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 62,472 shares of the company’s stock, valued at $3,933,861.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 9,179 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $428,383.93. Following the sale, the chief executive officer now owns 246,710 shares in the company, valued at approximately $11,513,955.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alaleh Nouri sold 30,432 shares of PROCEPT BioRobotics stock in a transaction dated 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 transaction, 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 138,371 shares of company stock valued at $7,459,789 in the last three months. 19.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Wells Fargo & Company boosted their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Piper Sandler raised their price target on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday. Finally, TD Cowen lifted their price target on PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $61.20.

PROCEPT BioRobotics Price Performance

The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -29.62 and a beta of 0.95. The company’s 50 day moving average is $50.75 and its 200 day moving average is $44.31.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.04. The business had revenue of $44.50 million during the quarter, compared to the consensus estimate of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The business’s quarterly revenue was up 82.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.63) EPS. Research analysts anticipate that PROCEPT BioRobotics Co. will post -1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently modified their holdings of the company. Fairman Group LLC purchased a new stake in PROCEPT BioRobotics in the 4th quarter valued at $84,000. Blue Trust Inc. boosted its stake in shares of PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after buying an additional 620 shares during the period. Glass Jacobson Investment Advisors llc purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter worth about $138,000. Amalgamated Bank increased its position in PROCEPT BioRobotics by 8.8% in the 3rd quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock valued at $180,000 after acquiring an additional 442 shares during the period. Finally, Jump Financial LLC acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at about $201,000. 89.46% of the stock is owned by institutional investors and hedge funds.

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).