KLP Kapitalforvaltning AS Makes New Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

KLP Kapitalforvaltning AS acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,700 shares of the company's stock, valued at approximately $781,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PRCT. Raleigh Capital Management Inc. purchased a new position in PROCEPT BioRobotics in the 4th quarter valued at approximately $32,000. Signaturefd LLC raised its stake in shares of PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after acquiring an additional 145 shares in the last quarter. IFP Advisors Inc purchased a new position in PROCEPT BioRobotics in the fourth quarter valued at $58,000. Arcadia Investment Management Corp MI acquired a new position in PROCEPT BioRobotics during the 4th quarter worth $64,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in PROCEPT BioRobotics during the 3rd quarter worth $64,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 6.5 %

Shares of NASDAQ PRCT traded down $3.55 during midday trading on Friday, hitting $51.23. 1,432,785 shares of the company's stock were exchanged, compared to its average volume of 763,283. The firm's fifty day simple moving average is $63.77 and its 200-day simple moving average is $76.98. The company has a market cap of $2.81 billion, a PE ratio of -26.27 and a beta of 1.09. PROCEPT BioRobotics Co. has a twelve month low of $46.99 and a twelve month high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

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

Wall Street Analyst Weigh In

PRCT has been the subject of several recent research reports. Morgan Stanley decreased their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Truist Financial reiterated a "buy" rating and issued a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.29.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock worth $368,322 over the last 90 days. Corporate insiders own 17.40% of the company's stock.

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).