PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Up 3.5%

PROCEPT BioRobotics Co. (NASDAQ:PRCT) shares rose 3.5% during mid-day trading on Monday . The company traded as high as $52.60 and last traded at $52.51. Approximately 165,939 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 483,769 shares. The stock had previously closed at $50.71.

Analyst Upgrades and Downgrades

PRCT has been the subject of a number of research reports. Truist Financial upped their price objective on PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Buy” and a consensus target price of $45.60.

PROCEPT BioRobotics Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63. The business has a 50 day moving average price of $49.01 and a two-hundred day moving average price of $41.59. The company has a market cap of $2.65 billion, a P/E ratio of -23.21 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.10). The company had revenue of $43.58 million during the quarter, compared to the consensus estimate of $41.79 million. PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. The company’s revenue was up 83.3% on a year-over-year basis. During the same period last year, the firm posted ($0.56) EPS. On average, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -2 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 1,024 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $48.83, for a total transaction of $50,001.92. Following the completion of the transaction, the chief financial officer now owns 102,149 shares of the company’s stock, valued at approximately $4,987,935.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Alaleh Nouri sold 14,694 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $49.97, for a total value of $734,259.18. Following the sale, the executive vice president now owns 47,351 shares in the company, valued at approximately $2,366,129.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Waters sold 1,024 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $48.83, for a total value of $50,001.92. Following the completion of the sale, the chief financial officer now owns 102,149 shares in the company, valued at approximately $4,987,935.67. The disclosure for this sale can be found here. Insiders sold 94,149 shares of company stock valued at $4,653,720 in the last 90 days. Insiders own 19.60% of the company’s stock.

Institutional Trading of PROCEPT BioRobotics

Several institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its stake in PROCEPT BioRobotics by 4.5% during the 4th quarter. Legal & General Group Plc now owns 6,843 shares of the company’s stock valued at $284,000 after purchasing an additional 295 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of PROCEPT BioRobotics by 5.8% during the 4th quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock valued at $243,000 after buying an additional 316 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of PROCEPT BioRobotics by 31.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,430 shares of the company’s stock valued at $51,000 after buying an additional 338 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of PROCEPT BioRobotics by 3.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 12,088 shares of the company’s stock valued at $507,000 after buying an additional 358 shares during the period. Finally, Credit Suisse AG lifted its holdings in shares of PROCEPT BioRobotics by 6.0% during the 3rd quarter. Credit Suisse AG now owns 7,594 shares of the company’s stock valued at $314,000 after buying an additional 430 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Company Profile

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).