PROCEPT BioRobotics (NASDAQ:PRCT) Shares Gap Down to $32.69

Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCTGet Rating) gapped down prior to trading on Friday . The stock had previously closed at $32.69, but opened at $31.65. PROCEPT BioRobotics shares last traded at $32.80, with a volume of 921 shares trading hands.

A number of research firms have recently commented on PRCT. B. Riley began coverage on shares of PROCEPT BioRobotics in a research report on Thursday, June 23rd. They issued a “buy” rating and a $53.00 price objective for the company. Guggenheim cut their price objective on shares of PROCEPT BioRobotics from $55.00 to $40.00 in a research report on Wednesday, March 9th. Bank of America cut their price objective on shares of PROCEPT BioRobotics from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, March 9th. Finally, SVB Leerink raised their price objective on shares of PROCEPT BioRobotics from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, March 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.00.

The company has a debt-to-equity ratio of 0.20, a quick ratio of 20.01 and a current ratio of 20.87. The firm’s 50-day simple moving average is $36.75 and its 200-day simple moving average is $29.88.

PROCEPT BioRobotics (NASDAQ:PRCTGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.08. The business had revenue of $14.20 million during the quarter, compared to the consensus estimate of $12.10 million. On average, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.86 EPS for the current year.

In other PROCEPT BioRobotics news, Director Thomas M. Krummel sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $35.98, for a total transaction of $719,600.00. Following the transaction, the director now directly owns 82,920 shares of the company’s stock, valued at approximately $2,983,461.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

A number of institutional investors and hedge funds have recently bought and sold shares of PRCT. Balyasny Asset Management LLC bought a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $1,120,000. Hudson Bay Capital Management LP purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $496,000. Strs Ohio purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at about $42,000. Sturgeon Ventures LLP purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at about $1,847,000. Finally, Northern Trust Corp purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at about $1,652,000. Institutional investors and hedge funds own 65.72% of the company’s stock.

PROCEPT BioRobotics Company Profile (NASDAQ:PRCT)

PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology. It 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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