PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Sells $2,445,699.40 in Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 26,420 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the sale, the chief executive officer now directly owns 205,605 shares in the company, valued at approximately $19,032,854.85. The trade was a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Reza Zadno also recently made the following trade(s):

• On Wednesday, October 30th, Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00.

PROCEPT BioRobotics Stock Performance

PRCT opened at $93.60 on Monday. PROCEPT BioRobotics Co. has a twelve month low of $33.45 and a twelve month high of $103.81. The firm has a market capitalization of $4.88 billion, a PE ratio of -48.00 and a beta of 1.01. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $82.41 and its 200 day moving average price is $72.53.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (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 business had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same period in the prior year, the business earned ($0.51) earnings per share. The business’s revenue was up 66.4% compared to the same quarter last year. As a group, sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PRCT shares. Piper Sandler restated an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. 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 price target for the company. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. TD Cowen boosted their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Bank of America boosted their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PROCEPT BioRobotics has an average rating of “Moderate Buy” and an average price target of $89.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRCT. Values First Advisors Inc. acquired a new stake in PROCEPT BioRobotics during the third quarter worth about $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $36,000. Quest Partners LLC increased its holdings in shares of PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at approximately $66,000. Finally, Nisa Investment Advisors LLC lifted its holdings 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 acquiring an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).