Reza Zadno Sells 5,475 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 5,475 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PROCEPT BioRobotics Stock Up 1.4 %

NASDAQ:PRCT traded up $0.77 during mid-day trading on Wednesday, reaching $57.80. The stock had a trading volume of 517,627 shares, compared to its average volume of 724,050. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock has a market cap of $3.17 billion, a P/E ratio of -29.64 and a beta of 1.05. The business’s 50 day moving average is $68.87 and its 200 day moving average is $78.75. PROCEPT BioRobotics Co. has a fifty-two week low of $45.56 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The business had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PRCT. FMR LLC lifted its holdings in shares of PROCEPT BioRobotics by 11.9% during the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after buying an additional 866,328 shares during the last quarter. Vanguard Group Inc. raised its stake in PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after purchasing an additional 297,075 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in PROCEPT BioRobotics by 14.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock valued at $141,110,000 after purchasing an additional 218,148 shares during the period. Wellington Management Group LLP boosted its holdings in PROCEPT BioRobotics by 38.8% in the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after purchasing an additional 416,819 shares during the period. Finally, State Street Corp grew its position in PROCEPT BioRobotics by 5.9% in the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock worth $94,503,000 after purchasing an additional 66,175 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PRCT shares. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Morgan Stanley reduced their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.29.

PROCEPT BioRobotics Company Profile

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).