PROCEPT BioRobotics (NASDAQ:PRCT) Reaches New 1-Year High at $65.13

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $65.13 and last traded at $65.12, with a volume of 33993 shares trading hands. The stock had previously closed at $63.50.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen boosted their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, May 6th. Truist Financial boosted their target price on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. Finally, Piper Sandler boosted their target price on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, May 6th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $61.20.

PROCEPT BioRobotics Trading Up 2.9 %

The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.36 billion, a P/E ratio of -29.95 and a beta of 0.95. The firm's 50 day moving average is $51.84 and its two-hundred day moving average is $45.31.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million for the quarter, compared to analysts' expectations of $41.58 million. During the same quarter in the previous year, the firm posted ($0.63) earnings per share. PROCEPT BioRobotics's revenue for the quarter was up 82.4% on a year-over-year basis. As a group, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.93 EPS for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 2,749 shares of the company's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total transaction of $128,295.83. Following the sale, the executive vice president now owns 62,913 shares of the company's stock, valued at $2,936,149.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Alaleh Nouri sold 2,749 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $128,295.83. Following the sale, the executive vice president now owns 62,913 shares in the company, valued at approximately $2,936,149.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas M. Krummel sold 20,000 shares of the company's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director now owns 45,631 shares in the company, valued at approximately $2,737,860. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,651 shares of company stock valued at $4,168,073. 17.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of institutional investors and hedge funds have recently made changes to their positions in PRCT. Bank of New York Mellon Corp raised its position in PROCEPT BioRobotics by 5.8% in the third quarter. Bank of New York Mellon Corp now owns 128,732 shares of the company's stock worth $4,224,000 after acquiring an additional 7,035 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PROCEPT BioRobotics by 23.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,721 shares of the company's stock valued at $286,000 after buying an additional 1,684 shares in the last quarter. TD Asset Management Inc raised its position in shares of PROCEPT BioRobotics by 70.9% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of PROCEPT BioRobotics by 48.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 923,437 shares of the company's stock valued at $30,298,000 after purchasing an additional 303,003 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $293,000. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Company Profile

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).