Stock Traders Purchase High Volume of PROCEPT BioRobotics Call Options (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) was the target of unusually large options trading activity on Monday. Investors bought 1,915 call options on the company. This represents an increase of 186% compared to the average daily volume of 670 call options.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America increased their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Truist Financial increased their price target on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Piper Sandler reiterated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, TD Cowen upped their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $86.40.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock traded up $18.23 during mid-day trading on Monday, hitting $87.00. The company had a trading volume of 3,614,702 shares, compared to its average volume of 623,004. PROCEPT BioRobotics has a 12-month low of $24.83 and a 12-month high of $90.79. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average is $75.86 and its 200-day moving average is $67.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm had revenue of $53.35 million for the quarter, compared to analyst estimates of $50.10 million. During the same quarter last year, the firm posted ($0.56) EPS. The business’s revenue was up 61.2% on a year-over-year basis. On average, research analysts expect that PROCEPT BioRobotics will post -1.88 earnings per share for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $6,964,077.12. The trade was 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. In related news, Director Antal Rohit Desai sold 44,867 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $80.11, for a total value of $3,594,295.37. Following the transaction, the director now owns 197,453 shares in the company, valued at approximately $15,817,959.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at approximately $6,964,077.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,892 shares of company stock worth $13,946,415. 17.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after purchasing an additional 713 shares during the last quarter. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics in the 3rd quarter valued at $27,000. Hennion & Walsh Asset Management Inc. raised its stake in PROCEPT BioRobotics by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 5,922 shares of the company’s stock valued at $474,000 after purchasing an additional 1,273 shares during the last quarter. International Assets Investment Management LLC raised its stake in PROCEPT BioRobotics by 12,919.5% in the 3rd quarter. International Assets Investment Management LLC now owns 52,078 shares of the company’s stock valued at $4,172,000 after purchasing an additional 51,678 shares during the last quarter. Finally, Chicago Capital LLC raised its stake in PROCEPT BioRobotics by 12.7% in the 3rd quarter. Chicago Capital LLC now owns 262,651 shares of the company’s stock valued at $21,044,000 after purchasing an additional 29,668 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

About PROCEPT BioRobotics

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).