Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Get Free Report) shot up 6.3% during mid-day trading on Monday . The company traded as high as $98.32 and last traded at $98.06. 411,184 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 648,707 shares. The stock had previously closed at $92.29.
Several analysts have weighed in on PRCT shares. Bank of America lifted their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. Truist Financial restated a "buy" rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. TD Cowen increased their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Wells Fargo & Company raised their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $88.40.
View Our Latest Stock Analysis on PROCEPT BioRobotics
The company has a quick ratio of 6.49, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $77.65 and a 200 day simple moving average of $68.59. The firm has a market capitalization of $5.07 billion, a P/E ratio of -47.33 and a beta of 1.00.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The business's revenue was up 66.4% on a year-over-year basis. On average, equities analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.
In related news, Director Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the completion of the sale, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Antal Rohit Desai sold 35,220 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now owns 23,963 shares in the company, valued at approximately $1,824,063.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the sale, the chief financial officer now owns 96,096 shares of the company's stock, valued at approximately $6,964,077.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 468,353 shares of company stock worth $40,196,366. Insiders own 17.40% of the company's stock.
Large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of PROCEPT BioRobotics in the third quarter worth approximately $367,000. Principal Financial Group Inc. boosted its stake in shares of PROCEPT BioRobotics by 290.2% during the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company's stock worth $5,498,000 after acquiring an additional 51,030 shares during the last quarter. M&G PLC grew its position in shares of PROCEPT BioRobotics by 2.9% during the 3rd quarter. M&G PLC now owns 143,565 shares of the company's stock valued at $11,485,000 after acquiring an additional 4,103 shares during the period. Sentry Investment Management LLC bought a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at $120,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $3,006,000. 89.46% of the stock is currently owned by institutional investors.
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).
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