PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Acquired by Point72 Europe London LLP

Point72 Europe London LLP raised its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 30.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 530,071 shares of the company's stock after acquiring an additional 123,800 shares during the quarter. PROCEPT BioRobotics makes up 2.8% of Point72 Europe London LLP's portfolio, making the stock its 6th biggest position. Point72 Europe London LLP owned 1.05% of PROCEPT BioRobotics worth $22,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in PRCT. Blue Trust Inc. boosted its stake in PROCEPT BioRobotics by 30.9% during the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company's stock valued at $110,000 after acquiring an additional 620 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new position in PROCEPT BioRobotics during the 4th quarter valued at $138,000. Amalgamated Bank boosted its stake in PROCEPT BioRobotics by 8.8% during the 3rd quarter. Amalgamated Bank now owns 5,488 shares of the company's stock valued at $180,000 after acquiring an additional 442 shares during the last quarter. Jump Financial LLC bought a new position in PROCEPT BioRobotics during the 4th quarter valued at $201,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PROCEPT BioRobotics by 7.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,397 shares of the company's stock valued at $394,000 after acquiring an additional 676 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT traded down $1.64 during mid-day trading on Tuesday, hitting $67.06. The stock had a trading volume of 558,817 shares, compared to its average volume of 546,338. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -31.63 and a beta of 1.04. The company has a 50 day simple moving average of $59.34 and a 200-day simple moving average of $50.29. PROCEPT BioRobotics Co. has a 52 week low of $24.83 and a 52 week high of $77.00. The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.04. The firm had revenue of $44.50 million for the quarter, compared to the consensus estimate of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. PROCEPT BioRobotics's quarterly revenue was up 82.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.63) EPS. On average, research analysts expect that PROCEPT BioRobotics Co. will post -1.93 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 1,024 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $48.83, for a total transaction of $50,001.92. Following the transaction, the chief financial officer now owns 102,149 shares of the company's stock, valued at approximately $4,987,935.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,391 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $48.83, for a total transaction of $263,242.53. Following the transaction, the chief executive officer now owns 241,319 shares of the company's stock, valued at approximately $11,783,606.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Waters sold 1,024 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $48.83, for a total transaction of $50,001.92. Following the transaction, the chief financial officer now directly owns 102,149 shares in the company, valued at approximately $4,987,935.67. The disclosure for this sale can be found here. Insiders have sold a total of 57,288 shares of company stock worth $3,451,082 in the last ninety days. 17.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on PRCT shares. TD Cowen increased their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, May 6th. Piper Sandler raised their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, May 6th. Finally, Truist Financial raised their price target on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $61.20.

PROCEPT BioRobotics 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).

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