PROCEPT BioRobotics (NASDAQ:PRCT) Reaches New 52-Week High at $53.54

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $53.54 and last traded at $52.81, with a volume of 29186 shares trading hands. The stock had previously closed at $52.23.

Analysts Set New Price Targets

A number of research analysts recently commented on PRCT shares. Truist Financial upped their target price on PROCEPT BioRobotics from $55.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Wells Fargo & Company upped their target price on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an "overweight" rating in a research note on Tuesday, January 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of "Buy" and a consensus price target of $45.60.

PROCEPT BioRobotics Stock Up 2.1 %

The business has a 50-day simple moving average of $48.85 and a two-hundred day simple moving average of $41.09. The stock has a market capitalization of $2.72 billion, a P/E ratio of -23.80 and a beta of 1.01. The company has a quick ratio of 6.77, a current ratio of 7.63 and a debt-to-equity ratio of 0.18.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly 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 business's revenue was up 83.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.56) earnings per share. Equities research analysts forecast that PROCEPT BioRobotics Co. will post -2 earnings per share for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 904 shares of the 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 sale, the chief financial officer now owns 33,523 shares in the company, valued at $1,676,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 completion of the sale, the executive vice president now directly owns 47,351 shares of the company's stock, valued at approximately $2,365,182.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin Waters sold 904 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now directly owns 33,523 shares of the company's stock, valued at $1,676,150. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,149 shares of company stock worth $4,653,720. Insiders own 19.60% of the company's stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc grew its position in shares of PROCEPT BioRobotics by 4.5% in the 4th quarter. Legal & General Group Plc now owns 6,843 shares of the company's stock valued at $284,000 after buying an additional 295 shares during the last quarter. Amalgamated Bank raised its stake in shares of PROCEPT BioRobotics by 5.8% in the fourth quarter. Amalgamated Bank now owns 5,804 shares of the company's stock worth $243,000 after purchasing an additional 316 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of PROCEPT BioRobotics by 31.0% in the second quarter. Osaic Holdings Inc. now owns 1,430 shares of the company's stock worth $51,000 after purchasing an additional 338 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of PROCEPT BioRobotics by 3.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 12,088 shares of the company's stock worth $507,000 after purchasing an additional 358 shares during the last quarter. Finally, Credit Suisse AG raised its stake in shares of PROCEPT BioRobotics by 6.0% in the third quarter. Credit Suisse AG now owns 7,594 shares of the company's stock worth $314,000 after purchasing an additional 430 shares during the last quarter. Institutional investors and hedge funds 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).