PROCEPT BioRobotics Sees Unusually Large Options Volume (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) was the recipient of unusually large options trading on Monday. Stock investors bought 1,915 call options on the company. This represents an increase of approximately 186% compared to the average volume of 670 call options.

Analysts Set New Price Targets

A number of brokerages have issued reports on PRCT. Piper Sandler reiterated an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Wells Fargo & Company increased their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Bank of America increased their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. TD Cowen increased their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a report on Monday, September 16th. Finally, Truist Financial increased their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $86.40.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT traded up $22.23 during midday trading on Monday, hitting $91.00. The company had a trading volume of 5,054,171 shares, compared to its average volume of 629,896. PROCEPT BioRobotics has a twelve month low of $24.83 and a twelve month high of $91.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -44.02 and a beta of 1.03. The business's 50-day simple moving average is $75.86 and its 200-day simple moving average is $67.14.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm had revenue of $53.35 million during the quarter, compared to analysts' expectations of $50.10 million. During the same quarter last year, the firm earned ($0.56) earnings per share. The business's revenue for the quarter was up 61.2% on a year-over-year basis. On average, research analysts predict that PROCEPT BioRobotics will post -1.88 earnings per share for the current year.

Insider Transactions at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 35,220 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now owns 23,963 shares in the company, valued at $1,824,063.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the transaction, the chief financial officer now owns 96,096 shares in the company, valued at approximately $6,964,077.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai sold 35,220 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the transaction, the director now owns 23,963 shares in the company, valued at $1,824,063.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,892 shares of company stock worth $13,946,415 over the last quarter. 17.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oak Ridge Investments LLC purchased a new stake in PROCEPT BioRobotics in the third quarter valued at $1,942,000. Nisa Investment Advisors LLC raised its position in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock valued at $89,000 after purchasing an additional 713 shares during the period. Values First Advisors Inc. purchased a new stake in PROCEPT BioRobotics in the third quarter valued at $27,000. Hennion & Walsh Asset Management Inc. raised its position in PROCEPT BioRobotics by 27.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,922 shares of the company's stock valued at $474,000 after purchasing an additional 1,273 shares during the period. Finally, International Assets Investment Management LLC raised its position in PROCEPT BioRobotics by 12,919.5% in the third quarter. International Assets Investment Management LLC now owns 52,078 shares of the company's stock valued at $4,172,000 after purchasing an additional 51,678 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.

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).