Antal Rohit Desai Sells 25,000 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 25,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the transaction, the director now directly owns 64,363 shares in the company, valued at $4,113,439.33. This trade represents a 27.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, June 12th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00.
• On Thursday, June 5th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $64.79, for a total transaction of $1,619,750.00.
• 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

PRCT opened at $61.16 on Friday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -31.36 and a beta of 1.10. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $55.99 and a 200-day moving average price of $67.58. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81.

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

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently bought and sold shares of the company. 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. Vanguard Group Inc. lifted its position in PROCEPT BioRobotics by 6.1% during 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 last quarter. Alliancebernstein L.P. lifted its position in PROCEPT BioRobotics by 22.3% during 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 last quarter. Wellington Management Group LLP lifted its position 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 purchasing an additional 416,819 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in PROCEPT BioRobotics by 43.6% during 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 last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

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

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).