PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Antal Rohit Desai Sells 25,000 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $60.66, for a total transaction of $1,516,500.00. Following the completion of the sale, the director now owns 139,363 shares in the company, valued at approximately $8,453,759.58. This represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Antal Rohit Desai also recently made the following trade(s):

• On Thursday, June 5th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $64.79, for a total transaction of $1,619,750.00.

PROCEPT BioRobotics Trading Down 3.3%

Shares of PRCT stock traded down $2.14 on Friday, hitting $62.91. 986,320 shares of the company's stock traded hands, compared to its average volume of 836,281. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -32.26 and a beta of 1.10. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The company's fifty day simple moving average is $55.27 and its 200 day simple moving average is $68.11.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. During the same period last year, the company posted ($0.51) EPS. PROCEPT BioRobotics's revenue was up 55.5% on a year-over-year basis. Equities analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Militia Capital Partners LP purchased a new stake in shares of PROCEPT BioRobotics during the first quarter valued at about $816,000. Osterweis Capital Management Inc. grew its stake in shares of PROCEPT BioRobotics by 98.0% during the 1st quarter. Osterweis Capital Management Inc. now owns 173,735 shares of the company's stock worth $10,122,000 after purchasing an additional 85,990 shares during the period. Rhumbline Advisers grew its stake in PROCEPT BioRobotics by 5.0% in the 1st quarter. Rhumbline Advisers now owns 64,373 shares of the company's stock valued at $3,750,000 after acquiring an additional 3,077 shares during the period. Intech Investment Management LLC grew its stake in PROCEPT BioRobotics by 54.4% in the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company's stock valued at $1,654,000 after acquiring an additional 10,002 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in PROCEPT BioRobotics by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company's stock valued at $8,923,000 after purchasing an additional 13,767 shares in the last quarter. Institutional investors own 89.46% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PRCT shares. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Bank of America lowered their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial reduced their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.00.

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).