Algert Global LLC Purchases 11,190 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Algert Global LLC lifted its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 41.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 38,217 shares of the company's stock after buying an additional 11,190 shares during the quarter. Algert Global LLC owned approximately 0.07% of PROCEPT BioRobotics worth $3,062,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PRCT. Essex Investment Management Co. LLC boosted its holdings in shares of PROCEPT BioRobotics by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company's stock valued at $6,489,000 after acquiring an additional 228 shares during the period. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $27,000. Arizona State Retirement System grew its position in PROCEPT BioRobotics by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company's stock worth $784,000 after purchasing an additional 350 shares during the last quarter. KBC Group NV increased its stake in shares of PROCEPT BioRobotics by 32.6% in the third quarter. KBC Group NV now owns 1,531 shares of the company's stock valued at $123,000 after purchasing an additional 376 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PROCEPT BioRobotics by 4.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company's stock valued at $606,000 after buying an additional 408 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRCT shares. Wells Fargo & Company lifted their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a "hold" rating and a $95.00 price target for the company. Bank of America boosted their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. TD Cowen increased their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Finally, Truist Financial reissued a "buy" rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.50.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the sale, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. The trade was a 20.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Antal Rohit Desai sold 33,000 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $96.60, for a total transaction of $3,187,800.00. Following the transaction, the director now directly owns 231,363 shares of the company's stock, valued at $22,349,665.80. The trade was a 12.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 561,773 shares of company stock valued at $49,073,125 in the last quarter. Insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Down 2.0 %

Shares of NASDAQ PRCT traded down $1.98 during mid-day trading on Wednesday, reaching $97.29. The company had a trading volume of 519,390 shares, compared to its average volume of 656,404. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. PROCEPT BioRobotics Co. has a twelve month low of $33.45 and a twelve month high of $103.81. The stock's 50 day moving average is $83.12 and its 200-day moving average is $73.12. The stock has a market capitalization of $5.08 billion, a PE ratio of -50.08 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm's revenue was up 66.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.51) earnings per share. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

PROCEPT BioRobotics 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).