PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells $1,200,000.00 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Thomas M. Krummel sold 20,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,737,860. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock opened at $60.36 on Thursday. The company’s fifty day simple moving average is $50.97 and its two-hundred day simple moving average is $44.42. PROCEPT BioRobotics Co. has a 12-month low of $24.83 and a 12-month high of $65.00. The firm has a market cap of $3.10 billion, a PE ratio of -28.47 and a beta of 0.95. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.04. The company 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%. PROCEPT BioRobotics’s quarterly revenue was up 82.4% on a year-over-year basis. During the same period last year, the firm earned ($0.63) earnings per share. As a group, equities analysts expect that PROCEPT BioRobotics Co. will post -1.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PRCT shares. Truist Financial boosted their price objective on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. TD Cowen boosted their price target on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Piper Sandler boosted their target price on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $61.20.

Hedge Funds Weigh In On PROCEPT BioRobotics

Hedge funds have recently made changes to their positions in the business. Fairman Group LLC bought a new stake in PROCEPT BioRobotics in the fourth quarter valued at $84,000. Blue Trust Inc. increased its position in shares of PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after buying an additional 620 shares during the period. Glass Jacobson Investment Advisors llc bought a new position in PROCEPT BioRobotics in the fourth quarter worth about $138,000. Jump Financial LLC bought a new position in PROCEPT BioRobotics in the fourth quarter worth about $201,000. Finally, Amalgamated Bank lifted its holdings in PROCEPT BioRobotics by 8.8% in the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after buying an additional 442 shares during the period. 89.46% of the stock is owned by hedge funds and other 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).