PROCEPT BioRobotics (NASDAQ:PRCT) Trading Up 3.7%

PROCEPT BioRobotics Co. (NASDAQ:PRCT) shares shot up 3.7% on Tuesday . The stock traded as high as $54.00 and last traded at $53.97. 264,792 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 497,665 shares. The stock had previously closed at $52.05.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.00.

PROCEPT BioRobotics Stock Performance

The stock has a fifty day simple moving average of $49.37 and a 200-day simple moving average of $42.94. 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 stock has a market cap of $2.72 billion, a P/E ratio of -23.62 and a beta of 1.01.

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

Insider Buying and Selling

In other news, CFO Kevin Waters sold 904 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the sale, the chief financial officer now directly owns 33,523 shares in the company, valued at $1,676,150. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 2,749 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total transaction of $128,295.83. Following the completion of the sale, the executive vice president now owns 62,913 shares in the company, valued at approximately $2,936,149.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the completion of the sale, the chief financial officer now owns 33,523 shares of the company’s stock, valued at approximately $1,676,150. The disclosure for this sale can be found here. Insiders sold a total of 94,149 shares of company stock worth $4,653,720 in the last ninety days. 19.60% of the stock is owned by insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several large investors have recently modified their holdings of PRCT. Fairman Group LLC purchased a new position in shares of PROCEPT BioRobotics in the 4th quarter worth about $84,000. Blue Trust Inc. grew its holdings in shares of PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after buying an additional 620 shares during the last quarter. Glass Jacobson Investment Advisors llc purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $138,000. Amalgamated Bank boosted its stake in shares of PROCEPT BioRobotics by 8.8% during the 3rd quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after acquiring an additional 442 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $201,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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).