PROCEPT BioRobotics (NASDAQ:PRCT) Trading Down 2.8% - Time to Sell?

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) shares traded down 2.8% during mid-day trading on Friday . The company traded as low as $76.99 and last traded at $76.60. 65,400 shares traded hands during trading, a decline of 90% from the average session volume of 649,501 shares. The stock had previously closed at $78.84.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Piper Sandler restated an "overweight" rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a "hold" rating and a $95.00 target price for the company. Truist Financial reaffirmed a "buy" rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an "overweight" rating and a $105.00 target price for the company. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.86.

PROCEPT BioRobotics Stock Down 3.6 %

The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $88.52 and a 200 day simple moving average of $78.99. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -38.98 and a beta of 1.05.

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. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $58.40 million during the quarter, compared to analysts' expectations of $53.30 million. During the same quarter last year, the firm posted ($0.51) earnings per share. The company's revenue for the quarter was up 66.4% compared to the same quarter last year. As a group, analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now owns 258,445 shares of the company's stock, valued at $23,518,495. The trade was a 52.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 directly owns 52,472 shares in the company, valued at approximately $5,096,605.36. The trade was a 34.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 462,816 shares of company stock valued at $43,008,799 over the last 90 days. Insiders own 17.40% of the company's stock.

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds have recently bought and sold shares of PRCT. Westfield Capital Management Co. LP bought a new stake in PROCEPT BioRobotics during the third quarter worth $72,563,000. Perpetual Ltd bought a new stake in PROCEPT BioRobotics during the fourth quarter worth $66,972,000. Franklin Resources Inc. lifted its holdings in PROCEPT BioRobotics by 64.5% during 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 during the period. Lord Abbett & CO. LLC lifted its holdings in PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock worth $59,974,000 after acquiring an additional 233,430 shares during the period. Finally, Transatlantique Private Wealth LLC bought a new stake in PROCEPT BioRobotics during the second quarter worth $9,164,000. 89.46% of the stock is currently owned by institutional investors.

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).