Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells 33,000 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai sold 33,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $96.60, for a total transaction of $3,187,800.00. Following the transaction, the director now owns 231,363 shares in the company, valued at $22,349,665.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, November 7th, Antal Rohit Desai sold 34,000 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $95.39, for a total transaction of $3,243,260.00.
• On Thursday, September 12th, Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37.
• On Tuesday, September 10th, Antal Rohit Desai sold 36,500 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $76.18, for a total transaction of $2,780,570.00.
• On Thursday, September 5th, Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85.
• 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 Stock Down 2.0 %

Shares of PRCT traded down $2.00 during mid-day trading on Thursday, hitting $96.23. 1,255,168 shares of the company’s stock were exchanged, compared to its average volume of 657,174. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $79.03 and a two-hundred day moving average of $69.62. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of -49.35 and a beta of 1.01. PROCEPT BioRobotics Co. has a twelve month low of $29.71 and a twelve month high of $99.34.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The company had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm’s revenue for the quarter was up 66.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.51) EPS. On average, sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PRCT shares. TD Cowen upped their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Bank of America increased their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Buy” and a consensus price target of $88.40.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PRCT. Quantbot Technologies LP increased its holdings in PROCEPT BioRobotics by 151.9% during the first quarter. Quantbot Technologies LP now owns 30,574 shares of the company’s stock worth $1,511,000 after buying an additional 18,437 shares during the last quarter. Swiss National Bank raised its stake in PROCEPT BioRobotics by 1.8% during the first quarter. Swiss National Bank now owns 89,700 shares of the company’s stock worth $4,433,000 after acquiring an additional 1,600 shares in the last quarter. Sei Investments Co. raised its stake in PROCEPT BioRobotics by 35.9% during the first quarter. Sei Investments Co. now owns 22,777 shares of the company’s stock worth $1,126,000 after acquiring an additional 6,011 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of PROCEPT BioRobotics by 8.5% in the first quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock valued at $358,000 after buying an additional 570 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of PROCEPT BioRobotics by 8.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock valued at $31,027,000 after buying an additional 51,305 shares during the period. Institutional investors own 89.46% of the company’s stock.

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).