PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Down 3.7%

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) dropped 3.7% during mid-day trading on Friday . The company traded as low as $61.86 and last traded at $62.00. Approximately 336,888 shares changed hands during trading, a decline of 39% from the average daily volume of 549,351 shares. The stock had previously closed at $64.40.

Wall Street Analyst Weigh In

PRCT has been the topic of a number of analyst reports. TD Cowen boosted their target price on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 6th. Truist Financial upped their price target on shares of PROCEPT BioRobotics from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Piper Sandler upped their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Buy” and a consensus target price of $62.60.

PROCEPT BioRobotics Trading Down 3.9 %

The stock has a market cap of $3.18 billion, a P/E ratio of -30.38 and a beta of 1.00. The firm’s fifty day moving average price is $65.25 and its two-hundred day moving average price is $55.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.52 and a quick ratio of 7.44.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, May 1st. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. The business had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The firm’s revenue was up 82.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.93 EPS for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Thomas M. Krummel sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 45,631 shares in the company, valued at $2,737,860. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 30,432 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the completion of the sale, the executive vice president now directly owns 62,472 shares in the company, valued at $3,933,861.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas M. Krummel sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. Following the completion of the sale, the director now directly owns 45,631 shares in the company, valued at $2,737,860. The disclosure for this sale can be found here. Insiders sold a total of 86,478 shares of company stock worth $5,515,482 over the last three months. Company insiders own 17.40% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Several large investors have recently modified their holdings of PRCT. Fairman Group LLC bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at approximately $84,000. RiverPark Advisors LLC bought a new stake in PROCEPT BioRobotics during the 2nd quarter valued at approximately $135,000. Blue Trust Inc. boosted its position in PROCEPT BioRobotics by 30.9% during the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after acquiring an additional 620 shares in the last quarter. Glass Jacobson Investment Advisors llc bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at approximately $138,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in PROCEPT BioRobotics during the 2nd quarter valued at approximately $284,000. 89.46% of the stock is owned by institutional investors.

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).