PROCEPT BioRobotics (NASDAQ:PRCT) Shares Gap Up Following Insider Buying Activity

PROCEPT BioRobotics Corporation (NASDAQ:PRCT)’s stock price gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $25.26, but opened at $26.87. PROCEPT BioRobotics shares last traded at $25.46, with a volume of 326,976 shares changing hands.

Specifically, Director Antal Rohit Desai purchased 98,699 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average price of $24.55 per share, for a total transaction of $2,423,060.45. Following the completion of the purchase, the director directly owned 426,262 shares of the company’s stock, valued at $10,464,732.10. This trade represents a 30.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Antal Rohit Desai bought 160,317 shares of PROCEPT BioRobotics stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $23.59 per share, for a total transaction of $3,781,878.03. Following the purchase, the director owned 327,563 shares in the company, valued at $7,727,211.17. This represents a 95.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In other PROCEPT BioRobotics news, Director Antal Rohit Desai purchased 167,246 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average cost of $25.58 per share, with a total value of $4,278,152.68. Following the transaction, the director owned 167,246 shares in the company, valued at approximately $4,278,152.68. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

PRCT has been the topic of several recent analyst reports. Morgan Stanley cut their price target on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Jefferies Financial Group lowered PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Truist Financial decreased their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Leerink Partners reduced their target price on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, Bank of America downgraded PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $38.00 to $20.00 in a report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.82.

PROCEPT BioRobotics News Summary

Here are the key news stories impacting PROCEPT BioRobotics this week:

• Positive Sentiment: Director Antal Rohit Desai executed multiple large open?market purchases (totaling roughly $10.5M across March 5–9), boosting his stake to ~426k shares — a strong insider signal that management/board sees value at current levels. Read More.
• Positive Sentiment: Robert W. Baird initiated research coverage with a neutral rating and a $30 target; new analyst coverage can improve visibility and trading liquidity even if the note is not a buy call. Read More.
• Neutral Sentiment: Two EVPs (Kevin Waters and Alaleh Nouri) sold small stakes on March 6 (~13.6k shares combined, ~$322k) — likely personal liquidity rather than a signal given the magnitude versus the director’s buys. Read More.
• Negative Sentiment: Multiple law firms (Frank R. Cruz, Levi & Korsinsky, Schall) have opened securities?fraud investigations related to prior guidance and management statements (citing the Feb. 25 earnings release and prior revenue/handpiece pricing comments). Investigations raise litigation risk, potential disclosures or restatements and create headline risk that can pressure sentiment and multiple. Read More. Read More. Read More.

PROCEPT BioRobotics Price Performance

The firm has a market capitalization of $1.45 billion, a P/E ratio of -14.92 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The stock has a 50 day moving average of $29.11 and a two-hundred day moving average of $32.83.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The business had revenue of $76.38 million during the quarter, compared to analyst estimates of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) earnings per share. Sell-side analysts predict that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors have recently added to or reduced their stakes in PRCT. Advisory Services Network LLC raised its stake in shares of PROCEPT BioRobotics by 1.3% in the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock valued at $1,158,000 after acquiring an additional 250 shares during the last quarter. Vega Investment Solutions raised its stake in shares of PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after acquiring an additional 265 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 0.3% during the third quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock valued at $4,368,000 after purchasing an additional 307 shares during the last quarter. RiverPark Advisors LLC lifted its holdings in PROCEPT BioRobotics by 22.5% during the 2nd quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock worth $101,000 after buying an additional 324 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in shares of PROCEPT BioRobotics by 20.3% in the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after buying an additional 337 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.