Eventide Asset Management LLC Purchases Shares of 129,000 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Eventide Asset Management LLC purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 129,000 shares of the company's stock, valued at approximately $10,335,000. Eventide Asset Management LLC owned about 0.25% of PROCEPT BioRobotics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Westfield Capital Management Co. LP bought a new position in PROCEPT BioRobotics in the 3rd quarter worth about $72,563,000. Charles Schwab Investment Management Inc. grew its stake in PROCEPT BioRobotics by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company's stock worth $32,254,000 after purchasing an additional 46,665 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in PROCEPT BioRobotics by 25.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company's stock worth $21,344,000 after purchasing an additional 71,930 shares during the period. Chicago Capital LLC raised its position in PROCEPT BioRobotics by 12.7% during the 3rd quarter. Chicago Capital LLC now owns 262,651 shares of the company's stock valued at $21,044,000 after purchasing an additional 29,668 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company's stock worth $11,205,000 after buying an additional 162,785 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 33,000 shares of the business'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 sale, the director now owns 231,363 shares in the company, valued at approximately $22,349,665.80. The trade was a 12.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total value of $2,445,699.40. Following the completion of the transaction, the chief executive officer now owns 205,605 shares of the company's stock, valued at approximately $19,032,854.85. The trade was a 11.39 % 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 three months. Corporate insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Down 1.7 %

Shares of PRCT stock traded down $1.70 during trading hours on Friday, reaching $95.59. 367,358 shares of the company's stock were exchanged, compared to its average volume of 655,153. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market cap of $4.99 billion, a price-to-earnings ratio of -49.02 and a beta of 1.01. PROCEPT BioRobotics Co. has a fifty-two week low of $36.15 and a fifty-two week high of $103.81. The stock's 50 day moving average is $83.90 and its 200-day moving average is $73.74.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company 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 posted ($0.51) earnings per share. The firm's revenue was up 66.4% compared to the same quarter last year. Analysts predict that PROCEPT BioRobotics Co. will post -1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PRCT. Wells Fargo & Company raised their price target on 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 started coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a "hold" rating and a $95.00 price target for the company. Bank of America boosted their price objective 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. Piper Sandler reaffirmed an "overweight" rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, TD Cowen upped their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and a consensus target price of $89.50.

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).