Bellevue Group AG Sells 56,358 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Bellevue Group AG reduced its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 8.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 612,691 shares of the company's stock after selling 56,358 shares during the quarter. Bellevue Group AG owned about 1.17% of PROCEPT BioRobotics worth $49,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics during the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at $36,000. Quest Partners LLC lifted its holdings in PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company's stock worth $41,000 after acquiring an additional 648 shares in the last quarter. Canton Hathaway LLC acquired a new position in PROCEPT BioRobotics in the third quarter valued at about $66,000. Finally, Nisa Investment Advisors LLC grew its stake in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock valued at $89,000 after acquiring an additional 713 shares during the period. 89.46% of the stock is owned by institutional investors.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 26,420 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $92.57, for a total value of $2,445,699.40. Following the transaction, the chief executive officer now directly owns 205,605 shares in the company, valued at approximately $19,032,854.85. This represents a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Waters sold 25,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. This represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 561,773 shares of company stock valued at $49,073,125 in the last three months. 17.40% of the stock is currently owned by company insiders.

PROCEPT BioRobotics Stock Performance

PRCT stock traded down $1.70 during trading hours on Friday, reaching $95.59. The stock had a trading volume of 367,358 shares, compared to its average volume of 711,356. The stock has a market capitalization of $4.99 billion, a PE ratio of -49.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock has a 50-day simple moving average of $83.90 and a 200 day simple moving average of $73.77. PROCEPT BioRobotics Co. has a fifty-two week low of $36.15 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.09. The business had revenue of $58.40 million for the quarter, compared to analysts' expectations 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 for the quarter was up 66.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.51) EPS. Analysts predict that PROCEPT BioRobotics Co. will post -1.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial reiterated a "buy" rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. TD Cowen increased their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Bank of America upped their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a research note on Thursday, August 22nd. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They set a "hold" rating and a $95.00 target price for the company. Finally, Piper Sandler restated an "overweight" rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of "Moderate Buy" and a consensus target price of $89.50.

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).