PROCEPT BioRobotics (NASDAQ:PRCT) Trading Down 2.2% - Should You Sell?

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) dropped 2.2% on Tuesday . The stock traded as low as $52.30 and last traded at $52.25. Approximately 213,583 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 784,065 shares. The stock had previously closed at $53.43.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial lowered their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Morgan Stanley dropped their price objective 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. Finally, Bank of America reduced their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.00.

PROCEPT BioRobotics Stock Performance

The company's fifty day simple moving average is $58.33 and its two-hundred day simple moving average is $74.25. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -25.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. Equities research analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Reza Zadno sold 5,475 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now owns 173,070 shares in the company, 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 worth $368,322. 17.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in PROCEPT BioRobotics by 9.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company's stock valued at $527,000 after buying an additional 723 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of PROCEPT BioRobotics by 54.6% in the first quarter. Diversified Trust Co now owns 7,187 shares of the company's stock valued at $419,000 after acquiring an additional 2,538 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of PROCEPT BioRobotics by 50.7% during the first quarter. Bessemer Group Inc. now owns 10,900 shares of the company's stock valued at $635,000 after acquiring an additional 3,665 shares during the period. Avior Wealth Management LLC raised its holdings in PROCEPT BioRobotics by 138.5% during the first quarter. Avior Wealth Management LLC now owns 4,918 shares of the company's stock worth $287,000 after purchasing an additional 2,856 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in PROCEPT BioRobotics by 28.8% in the first quarter. Blue Trust Inc. now owns 4,996 shares of the company's stock worth $291,000 after purchasing an additional 1,118 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

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).