Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells $1,619,750.00 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.79, for a total transaction of $1,619,750.00. Following the sale, the director now directly owns 89,363 shares in the company, valued at $5,789,828.77. This trade represents a 21.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Antal Rohit Desai also recently made the following trade(s):

• On Tuesday, June 3rd, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $60.66, for a total transaction of $1,516,500.00.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $62.91 on Friday. PROCEPT BioRobotics Co. has a 52-week low of $47.04 and a 52-week high of $103.81. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -32.26 and a beta of 1.10. The company has a fifty day simple moving average of $55.27 and a 200-day simple moving average of $68.30. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. On average, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of large investors have recently modified their holdings of PRCT. FMR LLC grew its holdings in shares of PROCEPT BioRobotics by 11.9% in the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock valued at $656,979,000 after purchasing an additional 866,328 shares during the period. Vanguard Group Inc. grew its holdings in shares of PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after purchasing an additional 297,075 shares during the period. Alliancebernstein L.P. grew its holdings in shares of PROCEPT BioRobotics by 22.3% in the first quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company’s stock valued at $124,892,000 after purchasing an additional 391,215 shares during the period. Wellington Management Group LLP grew 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 purchasing an additional 416,819 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of PROCEPT BioRobotics by 43.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company’s stock valued at $82,462,000 after purchasing an additional 429,461 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial reduced their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Morgan Stanley reduced their price objective 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, Bank of America reduced their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

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).