PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) insider Pooja Sharma sold 4,710 shares of the firm's stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $19.71, for a total value of $92,834.10. Following the transaction, the insider directly owned 106,471 shares in the company, valued at approximately $2,098,543.41. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
PROCEPT BioRobotics Stock Performance
Shares of PRCT traded up $0.35 during midday trading on Friday, reaching $20.62. 1,850,317 shares of the stock were exchanged, compared to its average volume of 1,113,616. PROCEPT BioRobotics Corporation has a twelve month low of $16.67 and a twelve month high of $38.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.55 and a quick ratio of 5.35. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -10.21 and a beta of 0.88. The business's 50-day moving average price is $19.32 and its 200 day moving average price is $23.13.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.07). The firm had revenue of $98.29 million during the quarter, compared to analyst estimates of $100.52 million. PROCEPT BioRobotics had a negative net margin of 32.53% and a negative return on equity of 30.62%. The firm's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the company earned ($0.38) earnings per share. On average, sell-side analysts expect that PROCEPT BioRobotics Corporation will post -1.67 EPS for the current fiscal year.
Institutional Trading of PROCEPT BioRobotics
Several large investors have recently bought and sold shares of PRCT. Johnson & Johnson bought a new stake in shares of PROCEPT BioRobotics in the 2nd quarter worth about $8,082,263. Bank of America Corp DE acquired a new stake in PROCEPT BioRobotics in the second quarter worth $11,656,000. Quantinno Capital Management LP acquired a new position in PROCEPT BioRobotics during the 1st quarter valued at about $1,693,000. Corient Private Wealth LP bought a new stake in PROCEPT BioRobotics during the second quarter worth approximately $2,448,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of PROCEPT BioRobotics in the 2nd quarter valued at about $1,203,000. Institutional investors and hedge funds own 89.46% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on PRCT. Robert W. Baird set a $20.00 target price on shares of PROCEPT BioRobotics in a report on Wednesday, August 5th. Evercore set a $23.00 price target on shares of PROCEPT BioRobotics in a research note on Wednesday, August 5th. Barclays assumed coverage on shares of PROCEPT BioRobotics in a research report on Tuesday, October 6th. They set an "overweight" rating and a $30.00 price objective on the stock. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $20.00 target price on shares of PROCEPT BioRobotics in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of "Hold" and an average target price of $25.25.
View Our Latest Stock Report on PROCEPT BioRobotics
PROCEPT BioRobotics Company Profile
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Get Free Report)
PROCEPT BioRobotics Corporation is a medical technology company focused on developing and commercializing robotic solutions for the treatment of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate that can cause urinary symptoms. The company's technology is designed to provide a minimally invasive alternative to conventional surgical procedures.
Its primary product is the AquaBeam Robotic System, which uses image guidance, robotic assistance and a high-velocity waterjet to remove targeted prostate tissue.
Further Reading
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