PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells $10,167.36 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 357 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $28.48, for a total value of $10,167.36. Following the completion of the sale, the executive vice president owned 151,201 shares of the company’s stock, valued at $4,306,204.48. The trade was a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 value of $19,873.90.

PROCEPT BioRobotics Trading Up 1.1%

Shares of NASDAQ PRCT traded up $0.31 during trading hours on Wednesday, reaching $29.09. The stock had a trading volume of 848,246 shares, compared to its average volume of 1,516,108. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -15.98 and a beta of 0.85. The business’s fifty day moving average price is $25.71 and its two-hundred day moving average price is $28.39. PROCEPT BioRobotics Corporation has a 52-week low of $19.35 and a 52-week high of $64.71.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PRCT shares. Leerink Partners reduced their price objective on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Robert W. Baird started coverage on shares of PROCEPT BioRobotics in a research note on Friday, March 6th. They issued a “neutral” rating and a $30.00 price objective for the company. TD Cowen reduced their price objective on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Truist Financial reduced their price objective on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.45.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of large investors have recently made changes to their positions in PRCT. Caitong International Asset Management Co. Ltd grew its holdings in shares of PROCEPT BioRobotics by 436.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock valued at $29,000 after buying an additional 746 shares during the last quarter. Center for Financial Planning Inc. purchased a new stake in shares of PROCEPT BioRobotics during the fourth quarter valued at $40,000. US Bancorp DE grew its holdings in shares of PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after buying an additional 1,079 shares during the last quarter. Cache Advisors LLC purchased a new stake in shares of PROCEPT BioRobotics during the first quarter valued at $42,000. Finally, Lazard Asset Management LLC grew its holdings in shares of PROCEPT BioRobotics by 90.7% during the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock valued at $98,000 after buying an additional 810 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

About PROCEPT BioRobotics

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.