Insider Selling: PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Sells 25,000 Shares of Stock

PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the transaction, the director now directly owns 64,363 shares in the company, valued at $4,113,439.33. This trade represents a 27.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, June 12th, Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00.
• 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 Trading Down 0.9%

Shares of PRCT stock traded down $0.53 on Friday, hitting $60.63. The stock had a trading volume of 537,404 shares, compared to its average volume of 838,013. 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 firm has a market capitalization of $3.35 billion, a P/E ratio of -31.09 and a beta of 1.10. PROCEPT BioRobotics Co. has a 1 year low of $47.04 and a 1 year high of $103.81. The company's 50 day moving average price is $56.22 and its 200-day moving average price is $66.89.

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 for the quarter, topping 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 company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. During the same quarter in the prior year, the business earned ($0.51) EPS. PROCEPT BioRobotics's revenue was up 55.5% on a year-over-year basis. Analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRCT. Bank of America decreased their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Morgan Stanley decreased their price target 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. Truist Financial decreased their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.00.

Institutional Investors Weigh In On PROCEPT BioRobotics

Large investors have recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd purchased a new stake in PROCEPT BioRobotics during the 1st quarter worth about $30,000. Thematics Asset Management acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter worth about $46,000. Signaturefd LLC boosted its position in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after acquiring an additional 145 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PROCEPT BioRobotics during the 1st quarter worth about $40,000. Finally, IFP Advisors Inc acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter worth about $58,000. Hedge funds and other 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).