PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Thomas M. Krummel Sells 20,000 Shares

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Thomas M. Krummel sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director now owns 45,631 shares of the company’s stock, valued at approximately $2,737,860. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

PROCEPT BioRobotics Stock Down 4.5 %

PRCT stock opened at $61.43 on Tuesday. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $65.00. The stock has a fifty day moving average of $50.51 and a 200-day moving average of $44.06. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -28.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.44 and a current ratio of 8.52.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.04. The firm had revenue of $44.50 million during the quarter, compared to the consensus estimate of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company’s revenue was up 82.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.63) earnings per share. As a group, equities research analysts predict that PROCEPT BioRobotics Co. will post -1.96 earnings per share for the current year.

Institutional Investors Weigh In On PROCEPT BioRobotics

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCT. FMR LLC grew its position in shares of PROCEPT BioRobotics by 13.0% in the third quarter. FMR LLC now owns 7,553,460 shares of the company’s stock valued at $247,829,000 after purchasing an additional 870,364 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PROCEPT BioRobotics by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock valued at $175,376,000 after buying an additional 109,694 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of PROCEPT BioRobotics by 89.8% in the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock worth $44,144,000 after buying an additional 636,750 shares in the last quarter. Wellington Management Group LLP raised its position in shares of PROCEPT BioRobotics by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after buying an additional 260,946 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in PROCEPT BioRobotics by 48.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 923,437 shares of the company’s stock worth $30,298,000 after acquiring an additional 303,003 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial increased their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Wells Fargo & Company lifted their target price on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Piper Sandler increased their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday. Finally, TD Cowen lifted their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $61.20.

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).