PROCEPT BioRobotics (NASDAQ:PRCT) Insider Pooja Sharma Sells 4,710 Shares of Company Stock

Key Points

• Insider Pooja Sharma sold 4,710 shares for about $92,834, reducing her stake by 4.24%. The sale covered tax withholding obligations tied to vested equity awards; she retained 106,471 shares.
• PROCEPT BioRobotics missed quarterly estimates, reporting a loss of $0.46 per share versus the expected $0.39 loss, and revenue of $98.29 million versus $100.52 million expected. Revenue nevertheless grew 18% year over year.
• Analysts’ consensus rating is Hold, with a $25.25 average price target. Shares rose 1.7% to $20.62 in Friday trading.

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) insider Pooja Sharma sold 4,710 shares of the business's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $19.71, for a total transaction of $92,834.10. Following the transaction, the insider owned 106,471 shares in the company, valued at approximately $2,098,543.41. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PROCEPT BioRobotics Stock Up 1.7%

Shares of NASDAQ PRCT traded up $0.35 during mid-day trading on Friday, reaching $20.62. The company had a trading volume of 1,850,317 shares, compared to its average volume of 1,511,420. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.35 and a current ratio of 6.55. PROCEPT BioRobotics Corporation has a twelve month low of $16.67 and a twelve month high of $38.11. The stock's 50 day moving average is $19.32 and its 200-day moving average is $23.18. The stock has a market capitalization of $1.18 billion, a PE ratio of -10.21 and a beta of 0.88.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.07). The firm had revenue of $98.29 million for the quarter, compared to analyst estimates of $100.52 million. PROCEPT BioRobotics had a negative net margin of 32.60% and a negative return on equity of 32.71%. PROCEPT BioRobotics's revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) EPS. As a group, equities analysts anticipate that PROCEPT BioRobotics Corporation will post -1.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PRCT shares. William Blair lowered PROCEPT BioRobotics from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 5th. Piper Sandler upgraded PROCEPT BioRobotics to a "strong-buy" rating in a report on Friday, October 16th. Oppenheimer reaffirmed a "market perform" rating on shares of PROCEPT BioRobotics in a research report on Wednesday, September 9th. UBS Group lifted their target price on shares of PROCEPT BioRobotics from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Truist Financial boosted their target price on shares of PROCEPT BioRobotics from $21.00 to $24.00 and gave the stock a "hold" rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of "Hold" and a consensus target price of $25.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in shares of PROCEPT BioRobotics by 994.5% in the second quarter. Versant Capital Management Inc now owns 1,193 shares of the company's stock worth $27,000 after purchasing an additional 1,084 shares during the period. Nykredit A S bought a new stake in PROCEPT BioRobotics during the 2nd quarter valued at approximately $27,000. Sterling Capital Management LLC grew its holdings in PROCEPT BioRobotics by 849.2% in the 3rd quarter. Sterling Capital Management LLC now owns 1,870 shares of the company's stock valued at $34,000 after buying an additional 1,673 shares during the last quarter. Signaturefd LLC grew its holdings in PROCEPT BioRobotics by 162.7% in the 3rd quarter. Signaturefd LLC now owns 1,899 shares of the company's stock valued at $35,000 after buying an additional 1,176 shares during the last quarter. Finally, Essential Partners LLC grew its holdings in PROCEPT BioRobotics by 7,071.4% in the 1st quarter. Essential Partners LLC now owns 2,008 shares of the company's stock valued at $50,000 after buying an additional 1,980 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms. The company's technology is designed to provide a minimally invasive alternative to conventional surgical procedures.

Its primary product is the AquaBeam Robotic System, which uses image guidance, robotic assistance and a high-velocity waterjet to remove targeted prostate tissue.

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