PROCEPT BioRobotics (NASDAQ:PRCT) Sets New 12-Month High at $57.23

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.23 and last traded at $55.98, with a volume of 362485 shares trading hands. The stock had previously closed at $52.98.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an "overweight" rating in a report on Tuesday, January 9th. Truist Financial increased their target price on shares of PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $46.00.

PROCEPT BioRobotics Stock Performance

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 business's fifty day simple moving average is $49.45 and its 200-day simple moving average is $43.12. The firm has a market capitalization of $3.12 billion, a PE ratio of -27.69 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced 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 net margin of 77.75% and a negative return on equity of 46.59%. The company's quarterly revenue was up 83.3% compared to the same quarter last year. During the same period last year, the business earned ($0.56) earnings per share. As a group, equities research analysts expect that PROCEPT BioRobotics Co. will post -2 EPS for the current year.

Insider Activity

In other news, CFO Kevin Waters sold 22,349 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $50.16, for a total transaction of $1,121,025.84. Following the completion of the transaction, the chief financial officer now directly owns 33,523 shares in the company, valued at approximately $1,681,513.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Reza Zadno sold 5,391 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $48.83, for a total value of $263,242.53. Following the completion of the sale, the chief executive officer now directly owns 241,319 shares in the company, valued at $11,783,606.77. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Waters sold 22,349 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $50.16, for a total value of $1,121,025.84. Following the completion of the sale, the chief financial officer now owns 33,523 shares of the company's stock, valued at $1,681,513.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,149 shares of company stock worth $4,653,720. 19.60% of the stock is currently owned by insiders.

Institutional Trading of PROCEPT BioRobotics

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new stake in PROCEPT BioRobotics in the third quarter worth $26,404,000. Vanguard Group Inc. increased its stake in PROCEPT BioRobotics by 10.4% in the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company's stock worth $133,697,000 after purchasing an additional 385,271 shares during the period. American Century Companies Inc. increased its stake in PROCEPT BioRobotics by 14.2% in the third quarter. American Century Companies Inc. now owns 655,295 shares of the company's stock worth $21,500,000 after purchasing an additional 81,534 shares during the period. Dark Forest Capital Management LP purchased a new stake in PROCEPT BioRobotics in the third quarter worth $583,000. Finally, Barclays PLC increased its stake in PROCEPT BioRobotics by 225.3% in the third quarter. Barclays PLC now owns 51,613 shares of the company's stock worth $1,692,000 after purchasing an additional 35,746 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).