PROCEPT BioRobotics (NASDAQ:PRCT) Shares Up 4.4%

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) shares were up 4.4% during mid-day trading on Friday . The company traded as high as $48.02 and last traded at $47.76. Approximately 90,252 shares were traded during trading, a decline of 81% from the average daily volume of 483,166 shares. The stock had previously closed at $45.73.

Analyst Upgrades and Downgrades

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

PROCEPT BioRobotics Stock Up 2.9 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77. The stock has a market capitalization of $2.40 billion, a PE ratio of -21.00 and a beta of 1.01. The company has a 50 day moving average price of $48.51 and a 200-day moving average price of $40.56.

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

Insider Activity

In other news, CFO Kevin Waters sold 22,349 shares of the business's 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 transaction, the chief financial officer now directly owns 33,523 shares of the company's stock, valued at $1,681,513.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Alaleh Nouri sold 5,306 shares of the company's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total value of $265,034.70. Following the sale, the executive vice president now directly owns 47,351 shares of the company's stock, valued at $2,365,182.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin Waters sold 22,349 shares of the company'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 directly owns 33,523 shares in the company, valued at $1,681,513.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,459 shares of company stock valued at $6,153,402. Company insiders own 19.60% of the company's stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi bought a new stake in PROCEPT BioRobotics in the fourth quarter worth $37,000. Osaic Holdings Inc. boosted its holdings in 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 acquiring an additional 338 shares in the last quarter. O Dell Group LLC bought a new stake in PROCEPT BioRobotics in the fourth quarter worth $68,000. UBS Group AG boosted its holdings in PROCEPT BioRobotics by 127.9% in the third quarter. UBS Group AG now owns 1,823 shares of the company's stock worth $75,000 after acquiring an additional 1,023 shares in the last quarter. Finally, Fairman Group LLC bought a new stake in PROCEPT BioRobotics in the fourth quarter worth $84,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

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).