Castleark Management LLC Has $3.47 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Castleark Management LLC trimmed its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 53.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,250 shares of the company's stock after selling 49,990 shares during the period. Castleark Management LLC owned about 0.08% of PROCEPT BioRobotics worth $3,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Values First Advisors Inc. bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $36,000. Quest Partners LLC lifted its stake in PROCEPT BioRobotics by 2,492.3% in the second quarter. Quest Partners LLC now owns 674 shares of the company's stock valued at $41,000 after buying an additional 648 shares in the last quarter. Canton Hathaway LLC acquired a new position in shares of PROCEPT BioRobotics in the third quarter valued at approximately $66,000. Finally, Nisa Investment Advisors LLC increased its position in shares of PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock worth $89,000 after acquiring an additional 713 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRCT. Truist Financial reaffirmed 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. Bank of America boosted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. TD Cowen increased their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Morgan Stanley began coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an "overweight" rating and a $105.00 target price on the stock. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. One 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, PROCEPT BioRobotics presently has an average rating of "Moderate Buy" and an average target price of $97.86.

PROCEPT BioRobotics Stock Up 1.3 %

NASDAQ PRCT traded up $1.23 during trading hours on Friday, hitting $94.84. 403,797 shares of the company traded hands, compared to its average volume of 626,316. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of -48.64 and a beta of 0.99. PROCEPT BioRobotics Co. has a twelve month low of $36.99 and a twelve month high of $103.81. The business's 50-day moving average is $85.56 and its 200-day moving average is $74.70. 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 (NASDAQ:PRCT - Get Free Report) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $58.40 million during the quarter, compared to analysts' expectations of $53.30 million. During the same period last year, the business earned ($0.51) earnings per share. The firm's revenue was up 66.4% on a year-over-year basis. Sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the firm's stock in a transaction on 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 completion of the sale, the chief financial officer now owns 96,096 shares of the company's stock, valued at $7,928,880.96. This trade represents a 20.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alaleh Nouri sold 28,092 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the transaction, the executive vice president now owns 52,472 shares in the company, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 594,183 shares of company stock worth $53,258,164 in the last ninety days. Insiders own 17.40% of the company's stock.

About PROCEPT BioRobotics

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).