Reza Zadno Sells 288,461 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT) CEO Reza Zadno sold 288,461 shares of the business’s 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 completion of the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

PROCEPT BioRobotics Trading Up 2.5 %

Shares of PRCT stock opened at $92.29 on Friday. The firm has a fifty day moving average price of $77.39 and a 200-day moving average price of $68.06. PROCEPT BioRobotics Co. has a 1 year low of $27.65 and a 1 year high of $99.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 6.49. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -47.33 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the prior year, the company 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, equities analysts predict that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently added to or reduced their stakes in PRCT. Values First Advisors Inc. purchased a new position in PROCEPT BioRobotics during the 3rd quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of PROCEPT BioRobotics during the second quarter valued at approximately $36,000. Quest Partners LLC boosted its holdings in PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after acquiring an additional 648 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after purchasing an additional 713 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in shares of PROCEPT BioRobotics during the third quarter valued at approximately $120,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRCT. Piper Sandler restated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Bank of America raised their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company increased their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. TD Cowen increased their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Truist Financial restated 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics presently has an average rating of “Buy” and an average price target of $88.40.

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).