PROCEPT BioRobotics (NASDAQ:PRCT) Trading Up 3.5%

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report)'s share price rose 3.5% during trading on Monday . The company traded as high as $52.60 and last traded at $52.51. Approximately 165,939 shares changed hands during trading, a decline of 66% from the average daily volume of 483,769 shares. The stock had previously closed at $50.71.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company lifted their price target 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 boosted their target price on PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $45.60.

PROCEPT BioRobotics Stock Down 0.2 %

The stock has a 50 day moving average price of $48.96 and a 200 day moving average price of $41.46. The company has a market cap of $2.58 billion, a P/E ratio of -22.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63.

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

Insider Buying and Selling

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 9,179 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $428,383.93. Following the transaction, 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 document filed with the SEC, which can be accessed through this link. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 9,179 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $428,383.93. Following the completion of the transaction, the chief executive officer now owns 246,710 shares in the company, valued at approximately $11,513,955.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Waters sold 22,349 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $50.16, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 94,149 shares of company stock worth $4,653,720 in the last three months. Insiders own 19.60% of the company's stock.

Hedge Funds Weigh In On PROCEPT BioRobotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings 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 last quarter. Wellington Management Group LLP bought a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $26,404,000. BlackRock Inc. raised its position in shares of PROCEPT BioRobotics by 36.1% in the second quarter. BlackRock Inc. now owns 2,580,126 shares of the company's stock valued at $91,207,000 after purchasing an additional 684,194 shares during the period. Loomis Sayles & Co. L P grew its stake in 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 valued at $44,144,000 after acquiring an additional 636,750 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in PROCEPT BioRobotics by 10.4% during the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company's stock valued at $133,697,000 after acquiring an additional 385,271 shares in the last quarter. Institutional investors 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).