PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Thomas M. Krummel Sells 20,000 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) Director Thomas M. Krummel sold 20,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 45,631 shares in the company, valued at $2,737,860. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PROCEPT BioRobotics Stock Down 4.5 %

Shares of NASDAQ:PRCT traded down $2.88 during midday trading on Monday, hitting $61.43. The stock had a trading volume of 1,072,443 shares, compared to its average volume of 544,216. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $65.00. 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 business's 50-day simple moving average is $50.25 and its 200-day simple moving average is $43.82. The company has a market cap of $3.16 billion, a P/E ratio of -28.77 and a beta of 0.95.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, beating 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 business had revenue of $44.50 million during the quarter, compared to analysts' expectations of $41.58 million. During the same period last year, the business earned ($0.63) earnings per share. The firm's revenue was up 82.4% on a year-over-year basis. On average, sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRCT. FMR LLC boosted its position in PROCEPT BioRobotics by 13.0% during the third quarter. FMR LLC now owns 7,553,460 shares of the company's stock worth $247,829,000 after purchasing an additional 870,364 shares during the period. Wellington Management Group LLP bought a new position in PROCEPT BioRobotics during the third quarter worth $26,404,000. Loomis Sayles & Co. L P lifted its holdings in shares of PROCEPT BioRobotics by 89.8% during the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company's stock worth $44,144,000 after buying an additional 636,750 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PROCEPT BioRobotics by 10.4% during the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company's stock worth $133,697,000 after buying an additional 385,271 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $15,533,000. 89.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday. Piper Sandler raised their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday. Wells Fargo & Company raised their price target on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 9th. Finally, Truist Financial raised their price target on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $61.20.

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).