Counterpoint Mutual Funds LLC bought a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,814 shares of the company's stock, valued at approximately $388,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Lord Abbett & CO. LLC grew its position in PROCEPT BioRobotics by 45.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock valued at $59,974,000 after acquiring an additional 233,430 shares during the last quarter. Perpetual Ltd bought a new position in shares of PROCEPT BioRobotics in the fourth quarter worth about $66,972,000. Penserra Capital Management LLC purchased a new position in PROCEPT BioRobotics in the 3rd quarter worth about $2,308,000. Oak Ridge Investments LLC lifted its holdings in PROCEPT BioRobotics by 24.0% during the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company's stock valued at $2,420,000 after buying an additional 5,817 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in PROCEPT BioRobotics by 295.8% in the 4th quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock valued at $531,000 after buying an additional 4,931 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PRCT has been the subject of several research analyst reports. Truist Financial reaffirmed a "buy" rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Morgan Stanley dropped their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.29.
Get Our Latest Report on PRCT
PROCEPT BioRobotics Stock Up 0.4 %
Shares of NASDAQ:PRCT traded up $0.23 on Friday, reaching $58.10. The company had a trading volume of 666,081 shares, compared to its average volume of 725,777. 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 firm has a market capitalization of $3.18 billion, a PE ratio of -29.79 and a beta of 1.05. PROCEPT BioRobotics Co. has a 52-week low of $45.56 and a 52-week high of $103.81. The firm's 50 day simple moving average is $67.72 and its 200-day simple moving average is $78.46.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. As a group, analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.
Insider Activity at PROCEPT BioRobotics
In other news, CFO Kevin Waters sold 733 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock valued at $368,322 over the last 90 days. Insiders own 17.40% of the company's stock.
About PROCEPT BioRobotics
(
Free Report)
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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