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

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

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 Price Performance

Shares of PRCT stock traded down $2.14 during trading hours on Friday, reaching $62.91. The stock had a trading volume of 986,320 shares, compared to its average volume of 832,182. The stock's fifty day simple moving average is $55.15 and its 200 day simple moving average is $68.68. The firm has a market capitalization of $3.48 billion, a PE ratio of -32.26 and a beta of 1.10. PROCEPT BioRobotics Co. has a 12 month low of $47.04 and a 12 month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The business had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business's quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.51) EPS. On average, equities research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after purchasing an additional 145 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in PROCEPT BioRobotics by 1.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock worth $1,141,000 after buying an additional 150 shares during the last quarter. Naviter Wealth LLC grew its position in PROCEPT BioRobotics by 6.0% during the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company's stock valued at $249,000 after acquiring an additional 176 shares during the last quarter. Amundi raised its stake in shares of PROCEPT BioRobotics by 0.9% during the fourth quarter. Amundi now owns 20,143 shares of the company's stock worth $1,742,000 after acquiring an additional 183 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of PROCEPT BioRobotics by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,285 shares of the company's stock worth $1,150,000 after acquiring an additional 218 shares during the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRCT has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Truist Financial dropped their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 11th. Bank of America dropped their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Morgan Stanley cut their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PROCEPT BioRobotics presently has an average 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).