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 the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the sale, the director now directly owns 14,363 shares of the company's stock, valued at $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, June 10th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00.
• 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 value of $1,619,750.00.
• On Tuesday, June 3rd, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $60.66, for a total value of $1,516,500.00.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT traded down $0.53 during mid-day trading on Friday, hitting $60.63. The stock had a trading volume of 537,404 shares, compared to its average volume of 838,013. PROCEPT BioRobotics Co. has a 52-week low of $47.04 and a 52-week high of $103.81. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -31.09 and a beta of 1.10. The company has a 50 day simple moving average of $56.22 and a 200 day simple moving average of $66.89. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. During the same period last year, the business posted ($0.51) EPS. PROCEPT BioRobotics's quarterly 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 fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley decreased their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Truist Financial cut their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Bank of America cut their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.00.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently bought and sold shares of the company. Signaturefd LLC increased its stake in PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after purchasing an additional 145 shares in the last quarter. Ensign Peak Advisors Inc increased its position in PROCEPT BioRobotics by 1.1% during the fourth 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 in the last quarter. Naviter Wealth LLC increased 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 worth $249,000 after buying an additional 176 shares in the last quarter. Amundi increased its position in 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 buying an additional 183 shares in the last quarter. Finally, Arizona State Retirement System increased its position in PROCEPT BioRobotics by 1.5% during the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company's stock worth $1,150,000 after buying an additional 218 shares in the last quarter. 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).