LMR Partners LLP Buys 9,072 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

LMR Partners LLP raised its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 63.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,361 shares of the company's stock after buying an additional 9,072 shares during the period. LMR Partners LLP's holdings in PROCEPT BioRobotics were worth $1,872,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Values First Advisors Inc. bought a new position in shares of PROCEPT BioRobotics in the third quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics in the second quarter valued at approximately $36,000. Quest Partners LLC raised its position in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company's stock worth $41,000 after purchasing an additional 648 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in PROCEPT BioRobotics by 178.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock worth $89,000 after buying an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $120,000. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Trading Up 2.8 %

Shares of NASDAQ PRCT traded up $2.59 during midday trading on Tuesday, reaching $93.57. 364,607 shares of the stock were exchanged, compared to its average volume of 660,956. 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 Co. has a 12 month low of $31.57 and a 12 month high of $103.81. The business has a 50-day simple moving average of $80.97 and a two-hundred day simple moving average of $71.53. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of -46.66 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million during the quarter, compared to analysts' expectations of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company's revenue was up 66.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.51) earnings per share. As a group, equities research analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Insider Activity

In other news, CFO Kevin Waters sold 25,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 96,096 shares of the company's stock, valued at $6,964,077.12. This trade represents a 20.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Antal Rohit Desai sold 34,000 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the completion of the sale, the director now directly owns 164,363 shares in the company, valued at approximately $15,678,586.57. This represents a 17.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,353 shares of company stock worth $46,627,426 over the last quarter. 17.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial reaffirmed 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. Piper Sandler reiterated an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Bank of America raised their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. Wells Fargo & Company lifted their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a "hold" rating and a $95.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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).