Americana Partners LLC Makes New Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Americana Partners LLC purchased a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,650 shares of the company's stock, valued at approximately $1,494,000.

A number of other large investors have also recently modified their holdings of PRCT. Values First Advisors Inc. purchased a new stake in PROCEPT BioRobotics during the third quarter worth $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in PROCEPT BioRobotics during the second quarter worth $36,000. Quest Partners LLC lifted its holdings in PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company's stock worth $41,000 after buying an additional 648 shares during the period. Nisa Investment Advisors LLC lifted its holdings in PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock worth $89,000 after buying an additional 713 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in PROCEPT BioRobotics during the second quarter worth $128,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares of the company's stock, valued at $23,518,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Antal Rohit Desai sold 13,305 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares in the company, valued at $24,248,849.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now owns 258,445 shares of the company's stock, valued at $23,518,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 468,353 shares of company stock valued at $40,196,366 in the last ninety days. 17.40% of the stock is currently owned by corporate insiders.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock traded up $2.29 during midday trading on Friday, reaching $92.29. The company had a trading volume of 1,016,863 shares, compared to its average volume of 1,158,524. PROCEPT BioRobotics Co. has a 12-month low of $27.65 and a 12-month high of $99.34. The firm's fifty day simple moving average is $77.65 and its 200-day simple moving average is $68.35. The company has a current ratio of 6.02, a quick ratio of 6.49 and a debt-to-equity ratio of 0.21.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on PRCT shares. TD Cowen upped their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Wells Fargo & Company increased their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Bank of America increased their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Piper Sandler reiterated an "overweight" rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Finally, Truist Financial reiterated a "buy" rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of "Buy" and an average price target of $88.40.

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).