Lyell Wealth Management LP Sells 34,523 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Lyell Wealth Management LP lowered its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 41.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,680 shares of the company's stock after selling 34,523 shares during the quarter. Lyell Wealth Management LP owned 0.10% of PROCEPT BioRobotics worth $3,980,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in PROCEPT BioRobotics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company's stock worth $175,376,000 after acquiring an additional 109,694 shares in the last quarter. Diversified Trust Co lifted its position in shares of PROCEPT BioRobotics by 25.4% in the first quarter. Diversified Trust Co now owns 13,442 shares of the company's stock worth $664,000 after purchasing an additional 2,725 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of PROCEPT BioRobotics by 23.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 199,027 shares of the company's stock worth $9,836,000 after purchasing an additional 37,179 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of PROCEPT BioRobotics by 98.2% during the first quarter. Principal Financial Group Inc. now owns 20,983 shares of the company's stock worth $1,037,000 after purchasing an additional 10,395 shares during the period. Finally, SpiderRock Advisors LLC purchased a new position in PROCEPT BioRobotics during the first quarter valued at approximately $307,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Up 2.9 %

Shares of NASDAQ PRCT traded up $1.94 during mid-day trading on Friday, reaching $68.77. 1,987,239 shares of the company traded hands, compared to its average volume of 608,542. The company's fifty day moving average is $75.86 and its two-hundred day moving average is $67.04. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $85.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The stock has a market cap of $3.57 billion, a PE ratio of -33.38 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The company had revenue of $53.35 million for the quarter, compared to the consensus estimate of $50.10 million. During the same quarter last year, the company posted ($0.56) earnings per share. The company's revenue for the quarter was up 61.2% compared to the same quarter last year. On average, analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PRCT. Piper Sandler reissued an "overweight" rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Truist Financial raised their price target on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Bank of America boosted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. Finally, TD Cowen raised their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $86.40.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the sale, the chief financial officer now owns 96,096 shares of the company's stock, valued at $6,964,077.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Antal Rohit Desai sold 35,220 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now owns 23,963 shares of the company's stock, valued at approximately $1,824,063.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares of the company's stock, valued at approximately $6,964,077.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,892 shares of company stock worth $13,946,415 in the last quarter. 17.40% of the stock is currently owned by company insiders.

About PROCEPT BioRobotics

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).