Insider Selling: PROCEPT BioRobotics (NASDAQ:PRCT) EVP Sells $163,340.40 in Stock

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) EVP Alaleh Nouri sold 6,892 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $163,340.40. Following the completion of the sale, the executive vice president directly owned 114,264 shares in the company, valued at approximately $2,708,056.80. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $27.80 on Thursday. The firm has a 50 day moving average of $28.89 and a 200-day moving average of $32.68. The firm has a market capitalization of $1.57 billion, a P/E ratio of -16.26 and a beta of 1.02. PROCEPT BioRobotics Corporation has a 12 month low of $19.35 and a 12 month high of $66.85. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14.

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

Institutional Trading of PROCEPT BioRobotics

Hedge funds have recently made changes to their positions in the stock. Vega Investment Solutions grew its position in 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 in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in PROCEPT BioRobotics during the third quarter valued at about $30,000. Caitong International Asset Management Co. Ltd lifted its stake in PROCEPT BioRobotics by 436.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after purchasing an additional 746 shares during the last quarter. Center for Financial Planning Inc. bought a new stake in PROCEPT BioRobotics during the fourth quarter worth about $40,000. Finally, US Bancorp DE boosted its holdings in shares of PROCEPT BioRobotics by 175.7% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after purchasing an additional 1,079 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRCT has been the topic of a number of recent analyst reports. TD Cowen lowered their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Robert W. Baird assumed coverage on PROCEPT BioRobotics in a research report on Friday, March 6th. They set a “neutral” rating and a $30.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Thursday, January 22nd. Wells Fargo & Company lowered their price target on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, UBS Group assumed coverage on PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $40.82.

PROCEPT BioRobotics Company Profile

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.