Kevin Waters Sells 6,721 Shares of PROCEPT BioRobotics (NASDAQ:PRCT) Stock

Key Points

• Insider sale: EVP Kevin Waters sold 6,721 shares on March 6 at an average price of $23.70 for $159,287.70, trimming his stake to 152,264 shares (a 4.23% decrease) valued at about $3.61 million.
• Earnings miss: PROCEPT reported Q (quarter) EPS of $(0.53) versus consensus $(0.32) and revenue of $76.38M versus $93.70M expected, leaving a negative net margin (~31%) despite revenue rising 11.9% year‑over‑year.
• Market view: Analyst sentiment is mixed with a consensus "Hold" and average price target of $40.82 after several lowered targets and downgrades, while institutional ownership is very high (89.46%) following large stake increases by multiple funds.

PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) EVP Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $159,287.70. Following the completion of the transaction, the executive vice president directly owned 152,264 shares of the company's stock, valued at $3,608,656.80. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock traded up $1.04 during trading hours on Monday, reaching $25.26. The company's stock had a trading volume of 2,163,428 shares, compared to its average volume of 1,640,943. The firm has a 50 day moving average price of $29.25 and a 200-day moving average price of $32.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. The stock has a market cap of $1.42 billion, a P/E ratio of -14.77 and a beta of 1.03. PROCEPT BioRobotics Corporation has a one year low of $19.35 and a one year high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.21). The business had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The firm's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) EPS. On average, analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PRCT. Oppenheimer reiterated a "market perform" rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Truist Financial lowered their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, February 27th. TD Cowen dropped their price objective on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Bank of America downgraded shares of PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Finally, Wells Fargo & Company lowered their target price on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an "overweight" rating for the company in a report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $40.82.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently modified their holdings of PRCT. Prosight Management LP boosted its holdings in PROCEPT BioRobotics by 1,692.4% during the 4th quarter. Prosight Management LP now owns 1,380,000 shares of the company's stock valued at $43,415,000 after acquiring an additional 1,303,009 shares during the period. Alliancebernstein L.P. increased its stake in PROCEPT BioRobotics by 58.6% in the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company's stock worth $122,052,000 after purchasing an additional 1,262,928 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of PROCEPT BioRobotics by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company's stock worth $102,919,000 after purchasing an additional 1,218,815 shares during the last quarter. Chicago Capital LLC boosted its stake in shares of PROCEPT BioRobotics by 175.7% during the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company's stock valued at $55,992,000 after purchasing an additional 999,873 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in shares of PROCEPT BioRobotics by 113.5% in the second quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company's stock worth $92,065,000 after purchasing an additional 849,792 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

About PROCEPT BioRobotics

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.

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