PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report)'s share price traded up 4% on Tuesday . The company traded as high as $63.70 and last traded at $63.34. 215,543 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 727,428 shares. The stock had previously closed at $60.90.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on PRCT. Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Truist Financial reissued a "buy" rating and set a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.29.
Read Our Latest Stock Analysis on PRCT
PROCEPT BioRobotics Price Performance
The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The stock has a 50-day simple moving average of $65.34 and a 200 day simple moving average of $77.81. The company has a market cap of $3.29 billion, a P/E ratio of -30.79 and a beta of 1.05.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. On average, equities analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.
Insider Transactions at PROCEPT BioRobotics
In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the company's stock in a transaction on 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 in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,455 shares of company stock valued at $368,322. Corporate insiders own 17.40% of the company's stock.
Institutional Trading of PROCEPT BioRobotics
Several large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company's stock worth $656,979,000 after acquiring an additional 866,328 shares during the last quarter. Vanguard Group Inc. boosted its stake in PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock worth $413,907,000 after purchasing an additional 297,075 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of PROCEPT BioRobotics by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company's stock worth $141,110,000 after purchasing an additional 218,148 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock valued at $120,051,000 after buying an additional 416,819 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of PROCEPT BioRobotics by 5.9% in the third 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 last quarter. 89.46% of the stock is owned by institutional investors.
About PROCEPT BioRobotics
(
Get Free Report)
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).
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