PROCEPT BioRobotics (NASDAQ:PRCT) EVP Barry Templin Sells 358 Shares

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Barry Templin sold 358 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $28.48, for a total value of $10,195.84. Following the completion of the transaction, the executive vice president owned 68,953 shares in the company, valued at $1,963,781.44. This represents a 0.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $29.09 on Thursday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -15.98 and a beta of 0.85. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $64.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.73 and a quick ratio of 5.51. The business’s 50-day moving average is $25.78 and its 200-day moving average is $28.39.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results 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 return on equity of 27.70% and a negative net margin of 31.82%.The company had revenue of $83.13 million during the quarter, compared to analyst estimates of $80.52 million. During the same period last year, the company posted ($0.45) earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year. Equities research analysts expect that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently bought and sold shares of PRCT. AQR Capital Management LLC increased its position in PROCEPT BioRobotics by 7.3% during the first quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock worth $1,101,000 after buying an additional 1,286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in PROCEPT BioRobotics by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after purchasing an additional 13,767 shares during the last quarter. Intech Investment Management LLC grew its holdings in PROCEPT BioRobotics by 54.4% during the first quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock valued at $1,654,000 after purchasing an additional 10,002 shares during the last quarter. Prudential Financial Inc. grew its holdings in PROCEPT BioRobotics by 100.4% during the second quarter. Prudential Financial Inc. now owns 6,815 shares of the company’s stock valued at $393,000 after purchasing an additional 3,415 shares during the last quarter. Finally, State Street Corp grew its holdings in PROCEPT BioRobotics by 6.9% during the second quarter. State Street Corp now owns 1,269,110 shares of the company’s stock valued at $73,101,000 after purchasing an additional 81,849 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America downgraded PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $38.00 to $20.00 in a research note on Thursday, February 26th. Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Truist Financial dropped their price objective on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Leerink Partners dropped their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Finally, Piper Sandler restated an “overweight” rating and issued a $35.00 price objective (up from $28.00) on shares of PROCEPT BioRobotics in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently 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.