PROCEPT BioRobotics (NASDAQ:PRCT) Shares Gap Down - Time to Sell?

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $78.31, but opened at $76.19. PROCEPT BioRobotics shares last traded at $77.98, with a volume of 145,160 shares changing hands.

Analysts Set New Price Targets

PRCT has been the topic of several analyst reports. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a "hold" rating and a $95.00 target price on the stock. 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. Wells Fargo & Company reiterated an "overweight" rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They set an "overweight" rating and a $105.00 price target on the stock. Finally, Truist Financial reaffirmed a "buy" rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.86.

PROCEPT BioRobotics Price Performance

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 firm has a market capitalization of $3.97 billion, a P/E ratio of -38.98 and a beta of 1.05. The company's 50 day moving average price is $88.98 and its 200 day moving average price is $78.78.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business's quarterly revenue was up 66.4% compared to the same quarter last year. During the same period last year, the company earned ($0.51) EPS. As a group, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Reza Zadno sold 26,420 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total value of $2,445,699.40. Following the transaction, the chief executive officer now owns 205,605 shares of the company's stock, valued at $19,032,854.85. This represents a 11.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alaleh Nouri sold 28,092 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following the transaction, the executive vice president now owns 52,472 shares in the company, valued at approximately $5,096,605.36. This trade represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 462,816 shares of company stock worth $43,008,799 over the last three months. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several large investors have recently bought and sold shares of PRCT. State Street Corp grew its holdings in shares of PROCEPT BioRobotics by 5.9% in the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company's stock valued at $94,503,000 after buying an additional 66,175 shares during the period. Geode Capital Management LLC lifted its holdings in PROCEPT BioRobotics by 8.2% during the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company's stock worth $88,678,000 after acquiring an additional 84,244 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in PROCEPT BioRobotics in the third quarter valued at about $72,563,000. Franklin Resources Inc. increased its holdings in shares of PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock worth $64,669,000 after acquiring an additional 347,330 shares in the last quarter. Finally, Perpetual Ltd bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth about $66,972,000. 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).