Kevin Waters Sells 706 Shares of PROCEPT BioRobotics (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Kevin Waters sold 706 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $28.15, for a total value of $19,873.90. Following the sale, the executive vice president directly owned 151,558 shares of the company’s stock, valued at approximately $4,266,357.70. This represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, March 6th, Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $23.70, for a total value of $159,287.70.

PROCEPT BioRobotics Stock Up 0.4%

Shares of PRCT stock opened at $25.79 on Friday. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $66.85. The firm has a market capitalization of $1.45 billion, a PE ratio of -15.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The stock’s 50-day simple moving average is $27.99 and its 200-day simple moving average is $32.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). The firm had revenue of $76.38 million for the quarter, compared to analyst estimates of $93.70 million. PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.35) EPS. Equities analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several large investors have recently made changes to their positions in PRCT. Prosight Management LP boosted its holdings in PROCEPT BioRobotics by 1,692.4% during the fourth quarter. Prosight Management LP now owns 1,380,000 shares of the company’s stock worth $43,415,000 after buying an additional 1,303,009 shares in the last quarter. Alliancebernstein L.P. increased its holdings in PROCEPT BioRobotics by 58.6% in the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock valued at $122,052,000 after buying an additional 1,262,928 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in PROCEPT BioRobotics by 59.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company’s stock valued at $102,919,000 after buying an additional 1,218,815 shares in the last quarter. Chicago Capital LLC raised its position in shares of PROCEPT BioRobotics by 175.7% in the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after acquiring an additional 999,873 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in shares of PROCEPT BioRobotics by 113.5% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company’s stock worth $92,065,000 after acquiring an additional 849,792 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRCT. Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Robert W. Baird initiated coverage on shares of PROCEPT BioRobotics in a report on Friday, March 6th. They set a “neutral” rating and a $30.00 target price for the company. Wells Fargo & Company decreased their target price on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. UBS Group assumed coverage on shares of PROCEPT BioRobotics in a report on Friday, December 12th. They issued a “buy” rating and a $62.00 price target on the stock. Finally, Wall Street Zen downgraded PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.82.

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.