Thomas M. Krummel Sells 20,000 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Thomas M. Krummel sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the director now owns 45,631 shares of the company’s stock, valued at approximately $2,737,860. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $62.79 on Wednesday. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.23 billion, a P/E ratio of -29.62 and a beta of 0.95. PROCEPT BioRobotics Co. has a 52 week low of $24.83 and a 52 week high of $65.00. The company has a 50-day moving average price of $50.75 and a 200 day moving average price of $44.31.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. The company had revenue of $44.50 million during the quarter, compared to the consensus estimate of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company’s revenue for the quarter was up 82.4% on a year-over-year basis. During the same period last year, the firm earned ($0.63) EPS. Research analysts predict that PROCEPT BioRobotics Co. will post -1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

PRCT has been the subject of several research analyst reports. TD Cowen upped their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler increased their target price on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company increased their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Finally, Truist Financial increased their target price on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Buy” and an average target price of $61.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of PROCEPT BioRobotics by 5.8% in the fourth quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock valued at $243,000 after purchasing an additional 316 shares during the last quarter. Essex Investment Management Co. LLC increased its position in PROCEPT BioRobotics by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 60,116 shares of the company’s stock worth $2,971,000 after purchasing an additional 336 shares in the last quarter. Principal Financial Group Inc. raised its stake in PROCEPT BioRobotics by 5.7% in the 4th quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock valued at $444,000 after purchasing an additional 568 shares during the last quarter. Blue Trust Inc. lifted its holdings in PROCEPT BioRobotics by 30.9% in the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after purchasing an additional 620 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PROCEPT BioRobotics by 7.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,397 shares of the company’s stock worth $394,000 after purchasing an additional 676 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

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).