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

PROCEPT BioRobotics Co. (NASDAQ:PRCT) Director Thomas M. Krummel sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link.

PROCEPT BioRobotics Stock Down 4.5 %

Shares of NASDAQ PRCT opened at $61.43 on Tuesday. PROCEPT BioRobotics Co. has a 1 year low of $24.83 and a 1 year high of $65.00. The firm has a 50-day simple moving average of $50.51 and a two-hundred day simple moving average of $44.06. The company has a market cap of $3.16 billion, a P/E ratio of -28.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.52 and a quick ratio of 7.44.

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

Institutional Trading of PROCEPT BioRobotics

Large investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in PROCEPT BioRobotics by 13.0% during the 3rd quarter. FMR LLC now owns 7,553,460 shares of the company’s stock valued at $247,829,000 after buying an additional 870,364 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of PROCEPT BioRobotics during the third quarter worth approximately $26,404,000. Loomis Sayles & Co. L P raised its stake in shares of PROCEPT BioRobotics by 89.8% during the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock valued at $44,144,000 after acquiring an additional 636,750 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of PROCEPT BioRobotics by 10.4% during the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock valued at $133,697,000 after acquiring an additional 385,271 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $15,533,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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).