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 the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the transaction, the director now directly owns 14,363 shares in the company, valued at approximately $883,180.87. This represents a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $63.91, for a total transaction 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 transaction of $1,619,750.00.
• On Tuesday, June 3rd, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The shares were 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 trading hours on Friday, hitting $60.63. The company's stock had a trading volume of 537,404 shares, compared to its average volume of 837,119. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock has a fifty day simple moving average of $56.22 and a 200-day simple moving average of $67.31. The company has a market capitalization of $3.35 billion, a P/E ratio of -31.09 and a beta of 1.10.

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

Institutional Trading of PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company's stock valued at $656,979,000 after acquiring an additional 866,328 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in PROCEPT BioRobotics by 43.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company's stock valued at $82,462,000 after purchasing an additional 429,461 shares during the last quarter. Wellington Management Group LLP raised its position in PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock valued at $120,051,000 after purchasing an additional 416,819 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of PROCEPT BioRobotics by 22.3% during the first quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company's stock valued at $124,892,000 after purchasing an additional 391,215 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of PROCEPT BioRobotics by 47.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,055,762 shares of the company's stock worth $61,510,000 after purchasing an additional 341,906 shares during the last quarter. Institutional investors own 89.46% of the company's stock.

Analyst Ratings Changes

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

About PROCEPT BioRobotics

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).