Insider Selling: PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells 357 Shares of Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 357 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $28.48, for a total transaction of $10,167.36. Following the sale, the executive vice president directly owned 151,201 shares in the company, valued at $4,306,204.48. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kevin Waters also recently made the following trade(s):

• On Tuesday, March 17th, Kevin Waters sold 706 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $28.15, for a total transaction of $19,873.90.

PROCEPT BioRobotics Stock Performance

Shares of PRCT traded up $0.31 during trading hours on Wednesday, reaching $29.09. 848,246 shares of the company traded hands, compared to its average volume of 1,516,108. The stock has a market capitalization of $1.66 billion, a P/E ratio of -15.98 and a beta of 0.85. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $64.71. The business has a fifty day moving average price of $25.71 and a 200-day moving average price of $28.39.

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

Institutional Investors Weigh In On PROCEPT BioRobotics

Several hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of PROCEPT BioRobotics by 445.3% during the 1st quarter. Parallel Advisors LLC now owns 2,950 shares of the company’s stock worth $74,000 after acquiring an additional 2,409 shares in the last quarter. Essential Partners LLC raised its position in shares of PROCEPT BioRobotics by 7,071.4% during the 1st quarter. Essential Partners LLC now owns 2,008 shares of the company’s stock worth $50,000 after purchasing an additional 1,980 shares during the last quarter. Bank of America Corp DE raised its position in shares of PROCEPT BioRobotics by 46.3% during the 1st quarter. Bank of America Corp DE now owns 630,689 shares of the company’s stock worth $15,774,000 after purchasing an additional 199,484 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of PROCEPT BioRobotics by 12.7% during the 1st quarter. Janus Henderson Group PLC now owns 384,246 shares of the company’s stock worth $9,610,000 after purchasing an additional 43,405 shares during the last quarter. Finally, Amundi raised its position in shares of PROCEPT BioRobotics by 16.2% during the 1st quarter. Amundi now owns 23,394 shares of the company’s stock worth $585,000 after purchasing an additional 3,260 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRCT has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Wells Fargo & Company lowered their price target on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Truist Financial lowered their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Piper Sandler reissued an “overweight” rating and set a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research note on Thursday, April 30th. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.45.

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.