PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai Sells 13,305 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the sale, the director now directly owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, September 3rd, Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40.

PROCEPT BioRobotics Trading Up 0.4 %

NASDAQ:PRCT opened at $76.35 on Friday. The firm has a market capitalization of $3.96 billion, a P/E ratio of -36.01 and a beta of 1.03. PROCEPT BioRobotics Co. has a 52 week low of $24.83 and a 52 week high of $85.81. The company has a quick ratio of 6.49, a current ratio of 7.51 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $67.80 and a 200 day moving average of $60.17.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. The company had revenue of $53.35 million for the quarter, compared to the consensus estimate of $50.10 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. PROCEPT BioRobotics’s revenue was up 61.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.56) EPS. On average, research analysts predict that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Institutional Trading of PROCEPT BioRobotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blair William & Co. IL purchased a new position in shares of PROCEPT BioRobotics during the 1st quarter worth approximately $21,240,000. Artisan Partners Limited Partnership purchased a new stake in PROCEPT BioRobotics in the fourth quarter worth $15,533,000. Wellington Management Group LLP raised its holdings in PROCEPT BioRobotics by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock worth $44,663,000 after purchasing an additional 260,946 shares in the last quarter. Chicago Capital LLC bought a new position in PROCEPT BioRobotics in the second quarter worth $14,233,000. Finally, Federated Hermes Inc. lifted its position in PROCEPT BioRobotics by 788.9% during the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after buying an additional 162,785 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PRCT. Wells Fargo & Company upped their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America boosted their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Truist Financial lifted their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $74.17.

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).