PROCEPT BioRobotics (NASDAQ:PRCT) Stock: Insider Pooja Sharma Sells 4,710 Shares

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) insider Pooja Sharma sold 4,710 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $19.71, for a total transaction of $92,834.10. Following the transaction, the insider owned 106,471 shares in the company, valued at $2,098,543.41. This represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $20.62 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.89 and a quick ratio of 5.35. The company’s 50-day moving average is $19.32 and its 200-day moving average is $23.13. The stock has a market capitalization of $1.19 billion, a PE ratio of -10.21 and a beta of 0.88. PROCEPT BioRobotics Corporation has a 1 year low of $16.67 and a 1 year high of $38.11.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.07). PROCEPT BioRobotics had a negative net margin of 32.60% and a negative return on equity of 33.23%. The firm had revenue of $98.29 million for the quarter, compared to the consensus estimate of $100.52 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. The company’s revenue was up 18.0% compared to the same quarter last year. Equities research analysts expect that PROCEPT BioRobotics Corporation will post -1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently added to or reduced their stakes in the company. Aberdeen Group plc raised its position in PROCEPT BioRobotics by 88.2% during the third quarter. Aberdeen Group plc now owns 125,700 shares of the company’s stock valued at $2,290,000 after purchasing an additional 58,893 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of PROCEPT BioRobotics by 71.9% in the third quarter. Fifth Third Bancorp now owns 161,139 shares of the company’s stock worth $2,936,000 after buying an additional 67,420 shares during the period. Fulcrum Asset Management LLP increased its holdings in shares of PROCEPT BioRobotics by 19,930.2% in the third quarter. Fulcrum Asset Management LLP now owns 21,232 shares of the company’s stock worth $387,000 after buying an additional 21,126 shares during the period. Parallel Advisors LLC increased its holdings in shares of PROCEPT BioRobotics by 51.8% in the third quarter. Parallel Advisors LLC now owns 3,656 shares of the company’s stock worth $67,000 after buying an additional 1,247 shares during the period. Finally, Inscription Capital LLC lifted its stake in shares of PROCEPT BioRobotics by 4.1% in the 3rd quarter. Inscription Capital LLC now owns 42,398 shares of the company’s stock valued at $772,000 after acquiring an additional 1,662 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

PRCT has been the subject of several research analyst reports. TD Cowen decreased their target price on PROCEPT BioRobotics from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Robert W. Baird set a $20.00 target price on shares of PROCEPT BioRobotics in a research report on Wednesday, August 5th. William Blair lowered shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Oppenheimer reiterated a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Wednesday, September 9th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.25.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms. The company’s technology is designed to provide a minimally invasive alternative to conventional surgical procedures.

Its primary product is the AquaBeam Robotic System, which uses image guidance, robotic assistance and a high-velocity waterjet to remove targeted prostate tissue.