Connor Clark & Lunn Investment Management Ltd. Takes Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,111 shares of the company's stock, valued at approximately $1,371,000.

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

Insider Buying and Selling

In other news, Director Antal Rohit Desai sold 13,305 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the transaction, the director now directly owns 317,518 shares in the company, valued at $24,248,849.66. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Reza Zadno sold 288,461 shares of the company's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the sale, the chief executive officer now directly owns 258,445 shares of the company's stock, valued at approximately $23,518,495. This trade represents a 52.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,773 shares of company stock worth $49,073,125 in the last quarter. Insiders own 17.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America boosted their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Truist Financial restated a "buy" rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. TD Cowen raised their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $89.50.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock traded down $1.98 on Wednesday, reaching $97.29. The company's stock had a trading volume of 519,390 shares, compared to its average volume of 655,633. PROCEPT BioRobotics Co. has a twelve month low of $33.45 and a twelve month high of $103.81. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -50.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The business's fifty day moving average price is $83.12 and its 200 day moving average price is $73.12.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $58.40 million during the quarter, compared to analysts' expectations of $53.30 million. During the same quarter last year, the company posted ($0.51) EPS. The company's quarterly revenue was up 66.4% compared to the same quarter last year. Equities analysts expect 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).