Harbor Capital Advisors Inc. Trims Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Harbor Capital Advisors Inc. lowered its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,995 shares of the company's stock after selling 23,519 shares during the period. Harbor Capital Advisors Inc.'s holdings in PROCEPT BioRobotics were worth $1,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth about $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics during the second quarter worth about $36,000. Quest Partners LLC boosted its position 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in PROCEPT BioRobotics in the 3rd quarter worth approximately $64,000. Finally, Canton Hathaway LLC purchased a new position in PROCEPT BioRobotics during the 3rd quarter worth approximately $66,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRCT. 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 note on Monday, September 16th. Morgan Stanley began coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They set an "overweight" rating and a $105.00 price target on the stock. Piper Sandler restated an "overweight" rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Wells Fargo & Company reiterated an "overweight" rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group began coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a "hold" rating and a $95.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PROCEPT BioRobotics currently has a consensus rating of "Moderate Buy" and an average price target of $97.86.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock traded down $4.65 during trading on Monday, reaching $82.20. The company had a trading volume of 94,414 shares, compared to its average volume of 491,550. 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 firm's 50-day simple moving average is $90.28 and its 200 day simple moving average is $78.47. The firm has a market capitalization of $4.29 billion, a PE ratio of -42.15 and a beta of 1.05. PROCEPT BioRobotics Co. has a 1-year low of $44.02 and a 1-year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping 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 the consensus estimate of $53.30 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. The company's revenue for the quarter was up 66.4% on a year-over-year basis. As a group, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kevin Waters sold 25,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares of the company's stock, valued at approximately $6,964,077.12. This represents a 20.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total value of $2,584,668.60. Following the transaction, the chief executive officer now owns 179,185 shares in the company, valued at approximately $17,529,668.55. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 487,816 shares of company stock worth $44,820,549 over the last quarter. 17.40% of the stock is currently owned by corporate insiders.

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).