Bryce Point Capital LLC Invests $1.56 Million in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Bryce Point Capital LLC bought a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,347 shares of the company's stock, valued at approximately $1,558,000.

Several other hedge funds also recently modified their holdings of the company. Lord Abbett & CO. LLC raised its position in shares of PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock valued at $59,974,000 after buying an additional 233,430 shares during the last quarter. Perpetual Ltd acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at $66,972,000. Oak Ridge Investments LLC lifted its stake in shares of PROCEPT BioRobotics by 24.0% during the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company's stock worth $2,420,000 after purchasing an additional 5,817 shares during the period. SG Americas Securities LLC grew its position in shares of PROCEPT BioRobotics by 295.8% in the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock valued at $531,000 after purchasing an additional 4,931 shares during the period. Finally, Chicago Capital LLC increased its stake in PROCEPT BioRobotics by 44.5% in the fourth quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock valued at $30,564,000 after purchasing an additional 116,931 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 5,475 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,455 shares of company stock valued at $368,322. Corporate insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Down 2.6 %

Shares of PRCT traded down $1.34 during midday trading on Monday, reaching $49.90. 655,663 shares of the company were exchanged, compared to its average volume of 762,950. PROCEPT BioRobotics Co. has a 1-year low of $46.99 and a 1-year high of $103.81. The stock has a 50-day moving average price of $63.77 and a 200-day moving average price of $76.92. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -25.77 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. Research analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PRCT. Truist Financial restated a "buy" rating and issued a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. Morgan Stanley dropped their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and an average price target of $94.29.

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).