Cibc World Markets Corp Makes New $336,000 Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Cibc World Markets Corp purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,169 shares of the company's stock, valued at approximately $336,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $32,000. IFP Advisors Inc bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth about $58,000. Arcadia Investment Management Corp MI bought a new position in PROCEPT BioRobotics in the 4th quarter valued at about $64,000. Wilmington Savings Fund Society FSB bought a new position in shares of PROCEPT BioRobotics during the third quarter worth approximately $64,000. Finally, Canton Hathaway LLC acquired a new stake in shares of PROCEPT BioRobotics during the third quarter worth $66,000. Institutional investors own 89.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Truist Financial reissued a "buy" rating and issued a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. Morgan Stanley cut their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.29.

Insider Activity at PROCEPT BioRobotics

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

PROCEPT BioRobotics Price Performance

PRCT traded down $1.71 during trading on Friday, hitting $60.05. 823,605 shares of the stock traded hands, compared to its average volume of 749,601. The business has a 50 day moving average price of $65.34 and a 200 day moving average price of $77.81. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -30.79 and a beta of 1.05. PROCEPT BioRobotics Co. has a twelve month low of $45.56 and a twelve month high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

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

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).