PROCEPT BioRobotics Co. (NASDAQ:PRCT) EVP Hisham Shiblaq Sells 247 Shares

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

PROCEPT BioRobotics Price Performance

PRCT stock traded up $0.77 during trading on Wednesday, hitting $57.80. The company had a trading volume of 517,627 shares, compared to its average volume of 724,050. The business has a 50 day moving average of $68.87 and a 200 day moving average of $78.75. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -29.64 and a beta of 1.05. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a fifty-two week low of $45.56 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. As a group, research analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRCT. Westfield Capital Management Co. LP acquired a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $72,563,000. FMR LLC boosted its holdings in PROCEPT BioRobotics by 11.9% during the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after buying an additional 866,328 shares in the last quarter. Perpetual Ltd acquired a new position in PROCEPT BioRobotics in the fourth quarter worth approximately $66,972,000. Wellington Management Group LLP increased its holdings in shares of PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after buying an additional 416,819 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of PROCEPT BioRobotics by 64.5% during the 3rd 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 during the last quarter. Institutional investors own 89.46% of the company’s stock.

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).