Key Points
- PROCEPT BioRobotics EVP Kevin Waters sold 357 shares on June 8 at an average price of $28.48, totaling $10,167.36. The filing says the sale was to cover tax withholding obligations tied to vesting equity awards, and Waters still held 151,201 shares afterward.
- The company recently reported mixed quarterly results, posting EPS of -$0.56 versus expectations of -$0.55 while revenue came in at $83.13 million, above estimates and up 20.1% year over year.
- Wall Street remains cautious overall, with analysts assigning a consensus “Hold” rating and an average price target of $41.45. The stock was trading at $29.09, well below its 52-week high of $64.71.
PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) EVP Kevin Waters sold 357 shares of PROCEPT BioRobotics stock in a transaction on Monday, June 8th. The shares were sold at an average price of $28.48, for a total transaction of $10,167.36. Following the completion of the sale, the executive vice president owned 151,201 shares of the company's stock, valued at $4,306,204.48. This represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Kevin Waters also recently made the following trade(s):
- On Tuesday, March 17th, Kevin Waters sold 706 shares of PROCEPT BioRobotics stock. The shares were sold at an average price of $28.15, for a total transaction of $19,873.90.
PROCEPT BioRobotics Stock Performance
NASDAQ:PRCT opened at $29.09 on Thursday. The company has a fifty day moving average of $25.78 and a 200-day moving average of $28.39. The firm has a market capitalization of $1.66 billion, a P/E ratio of -15.98 and a beta of 0.85. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics Corporation has a twelve month low of $19.35 and a twelve month high of $64.71.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. The firm had revenue of $83.13 million during the quarter, compared to the consensus estimate of $80.52 million. During the same period in the previous year, the firm earned ($0.45) earnings per share. The business's quarterly revenue was up 20.1% on a year-over-year basis. As a group, sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current year.
Institutional Trading of PROCEPT BioRobotics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its holdings in PROCEPT BioRobotics by 436.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company's stock worth $29,000 after purchasing an additional 746 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in PROCEPT BioRobotics in the 4th quarter valued at $40,000. US Bancorp DE raised its position in PROCEPT BioRobotics by 175.7% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company's stock valued at $60,000 after buying an additional 1,079 shares during the last quarter. Cache Advisors LLC purchased a new stake in PROCEPT BioRobotics in the 1st quarter valued at $42,000. Finally, Lazard Asset Management LLC grew its stake in shares of PROCEPT BioRobotics by 90.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company's stock worth $98,000 after acquiring an additional 810 shares in the last quarter. 89.46% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently commented on PRCT shares. Bank of America lowered PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $38.00 to $20.00 in a research report on Thursday, February 26th. Leerink Partners decreased their price target on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Oppenheimer restated a "market perform" rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. Piper Sandler restated an "overweight" rating and set a $35.00 price target (up from $28.00) on shares of PROCEPT BioRobotics in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, PROCEPT BioRobotics has a consensus rating of "Hold" and an average price target of $41.45.
Read Our Latest Research Report on PROCEPT BioRobotics
About PROCEPT BioRobotics
(
Get Free Report)
PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company's technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.
The company's flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.
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