Harbor Capital Advisors Inc. Purchases New Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Harbor Capital Advisors Inc. acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 37,514 shares of the company's stock, valued at approximately $3,006,000. Harbor Capital Advisors Inc. owned 0.07% of PROCEPT BioRobotics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PRCT. Vanguard Group Inc. lifted its holdings in shares of PROCEPT BioRobotics by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company's stock worth $209,874,000 after acquiring an additional 62,164 shares during the period. Bellevue Group AG lifted its position in shares of PROCEPT BioRobotics by 0.5% during the first quarter. Bellevue Group AG now owns 890,114 shares of the company's stock worth $43,989,000 after purchasing an additional 4,768 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of PROCEPT BioRobotics by 8.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company's stock worth $31,027,000 after acquiring an additional 51,305 shares in the last quarter. Blair William & Co. IL bought a new stake in PROCEPT BioRobotics during the first quarter valued at $21,240,000. Finally, Driehaus Capital Management LLC grew its position in shares of PROCEPT BioRobotics by 25.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company's stock valued at $21,344,000 after buying an additional 71,930 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Trading Down 1.7 %

Shares of PRCT traded down $1.61 on Tuesday, reaching $95.46. 866,974 shares of the company's stock were exchanged, compared to its average volume of 652,842. The business has a 50 day moving average price of $78.31 and a two-hundred day moving average price of $69.23. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4.98 billion, a P/E ratio of -48.95 and a beta of 1.01. PROCEPT BioRobotics Co. has a 12 month low of $29.71 and a 12 month high of $99.34.

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

Insider Activity

In other news, Director Antal Rohit Desai sold 35,220 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the completion of the sale, the director now directly owns 23,963 shares of the company's stock, valued at $1,824,063.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Antal Rohit Desai sold 35,220 shares of the business'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 completion of the sale, the director now owns 23,963 shares of the company's stock, valued at approximately $1,824,063.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reza Zadno sold 288,461 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 258,445 shares in the company, valued at approximately $23,518,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 468,353 shares of company stock valued at $40,196,366. 17.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler restated an "overweight" rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Wells Fargo & Company raised 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. TD Cowen lifted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Bank of America boosted their target price 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. Finally, Truist Financial reiterated a "buy" rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average 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).