PROCEPT BioRobotics Co. (NASDAQ:PRCT) CFO Kevin Waters Sells 733 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT traded up $0.23 during trading on Friday, reaching $58.10. 666,081 shares of the company traded hands, compared to its average volume of 727,334. The firm's fifty day simple moving average is $67.15 and its 200 day simple moving average is $78.34. The stock has a market cap of $3.18 billion, a P/E ratio of -29.79 and a beta of 1.05. PROCEPT BioRobotics Co. has a 12-month low of $45.56 and a 12-month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $68.24 million for the quarter, compared to analysts' expectations 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, research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On PROCEPT BioRobotics

Several institutional investors and hedge funds have recently modified their holdings of PRCT. Principal Financial Group Inc. increased its stake in shares of PROCEPT BioRobotics by 290.2% in the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company's stock valued at $5,498,000 after purchasing an additional 51,030 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $842,000. KBC Group NV increased its stake in shares of PROCEPT BioRobotics by 32.6% in the 3rd quarter. KBC Group NV now owns 1,531 shares of the company's stock valued at $123,000 after purchasing an additional 376 shares in the last quarter. Swiss National Bank increased its stake in shares of PROCEPT BioRobotics by 5.8% in the 3rd quarter. Swiss National Bank now owns 95,400 shares of the company's stock valued at $7,643,000 after purchasing an additional 5,200 shares in the last quarter. Finally, LMR Partners LLP increased its stake in shares of PROCEPT BioRobotics by 63.5% in the 3rd quarter. LMR Partners LLP now owns 23,361 shares of the company's stock valued at $1,872,000 after purchasing an additional 9,072 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company's stock.

Wall Street Analyst Weigh In

PRCT has been the subject of a number of research reports. Truist Financial reaffirmed a "buy" rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Morgan Stanley lowered their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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).