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

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $54.79 and last traded at $53.62, with a volume of 53366 shares. The stock had previously closed at $53.75.

Wall Street Analyst Weigh In

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

PROCEPT BioRobotics Trading Down 2.4 %

The stock has a market cap of $2.67 billion, a PE ratio of -23.82 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. The firm has a 50-day simple moving average of $49.19 and a 200-day simple moving average of $42.32.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.10). The company had revenue of $43.58 million for the quarter, compared to analysts' expectations of $41.79 million. PROCEPT BioRobotics had a negative return on equity of 46.59% and a negative net margin of 77.75%. The business's revenue for the quarter was up 83.3% on a year-over-year basis. During the same period last year, the company posted ($0.56) EPS. Equities analysts forecast that PROCEPT BioRobotics Co. will post -2 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 9,179 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $428,383.93. Following the completion of the transaction, the chief executive officer now directly owns 246,710 shares of the company's stock, valued at approximately $11,513,955.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 9,179 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total value of $428,383.93. Following the sale, the chief executive officer now owns 246,710 shares of the company's stock, valued at approximately $11,513,955.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alaleh Nouri sold 2,749 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $128,295.83. Following the completion of the transaction, the executive vice president now directly owns 62,913 shares in the company, valued at approximately $2,936,149.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,149 shares of company stock valued at $4,653,720. Corporate 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 company. Ronald Blue Trust Inc. bought a new position in PROCEPT BioRobotics during the third quarter valued at approximately $71,000. Bank of New York Mellon Corp raised its position in PROCEPT BioRobotics by 5.8% in the 3rd 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 period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PROCEPT BioRobotics by 23.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,721 shares of the company's stock worth $286,000 after purchasing an additional 1,684 shares during the last quarter. TD Asset Management Inc grew its stake in shares of PROCEPT BioRobotics by 70.9% during the third 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 last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of PROCEPT BioRobotics by 48.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 923,437 shares of the company's stock worth $30,298,000 after buying an additional 303,003 shares during the period. 89.46% of the stock is currently owned by 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).