Essex Investment Management Co. LLC Has $4.17 Million Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Essex Investment Management Co. LLC trimmed its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 36.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,725 shares of the company's stock after selling 29,267 shares during the quarter. Essex Investment Management Co. LLC owned 0.10% of PROCEPT BioRobotics worth $4,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Raleigh Capital Management Inc. purchased a new position in PROCEPT BioRobotics in the fourth quarter valued at about $32,000. IFP Advisors Inc acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at about $58,000. Wilmington Savings Fund Society FSB bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at approximately $64,000. Arcadia Investment Management Corp MI bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at approximately $64,000. Finally, Canton Hathaway LLC acquired a new position in PROCEPT BioRobotics in the third quarter worth approximately $66,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock traded down $1.56 on Thursday, hitting $56.03. The company's stock had a trading volume of 996,207 shares, compared to its average volume of 721,063. The company has a fifty day moving average price of $71.15 and a 200-day moving average price of $79.37. The firm has a market cap of $3.07 billion, a P/E ratio of -28.73 and a beta of 1.06. PROCEPT BioRobotics Co. has a one year low of $45.56 and a one year high of $103.81. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

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PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. On average, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

PRCT has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a "hold" rating and a $95.00 target price for the company. Wells Fargo & Company restated an "overweight" rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Morgan Stanley reduced their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial reaffirmed a "buy" rating and set a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.29.

PROCEPT BioRobotics Company 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).