PROCEPT BioRobotics (NASDAQ:PRCT) Reaches New 1-Year High at $54.79

PROCEPT BioRobotics Co. (NASDAQ:PRCT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.79 and last traded at $53.62, with a volume of 53366 shares traded. The stock had previously closed at $53.75.

Analyst Upgrades and Downgrades

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

PROCEPT BioRobotics Trading Down 1.6 %

The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.69 billion, a PE ratio of -23.82 and a beta of 1.01. The business has a fifty day moving average price of $49.19 and a 200 day moving average price of $42.32.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.10). The company had revenue of $43.58 million during the quarter, compared to analysts’ expectations of $41.79 million. PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. The business’s revenue for the quarter was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.56) earnings per share. Analysts forecast that PROCEPT BioRobotics Co. will post -2 EPS for the current year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,306 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $49.95, for a total value of $265,034.70. Following the completion of the transaction, the executive vice president now owns 47,351 shares in the company, valued at $2,365,182.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,306 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total transaction of $265,034.70. Following the transaction, the executive vice president now owns 47,351 shares of the company’s stock, valued at $2,365,182.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin Waters sold 3,435 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $160,311.45. Following the completion of the sale, the chief financial officer now directly owns 49,416 shares of the company’s stock, valued at $2,306,244.72. The disclosure for this sale can be found here. Insiders have sold 94,149 shares of company stock worth $4,653,720 in the last ninety days. 19.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ronald Blue Trust Inc. purchased a new stake in PROCEPT BioRobotics in the 3rd quarter valued at approximately $71,000. Bank of New York Mellon Corp boosted its holdings in shares of PROCEPT BioRobotics by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 128,732 shares of the company’s stock worth $4,224,000 after purchasing an additional 7,035 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PROCEPT BioRobotics by 23.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,721 shares of the company’s stock worth $286,000 after buying an additional 1,684 shares during the period. TD Asset Management Inc grew its holdings in PROCEPT BioRobotics by 70.9% in the 3rd quarter. TD Asset Management Inc now owns 259,816 shares of the company’s stock valued at $8,525,000 after buying an additional 107,797 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of PROCEPT BioRobotics by 48.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 923,437 shares of the company’s stock valued at $30,298,000 after acquiring an additional 303,003 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).