Oak Ridge Investments LLC Has $2.42 Million Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Oak Ridge Investments LLC grew its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,059 shares of the company's stock after acquiring an additional 5,817 shares during the quarter. Oak Ridge Investments LLC owned 0.06% of PROCEPT BioRobotics worth $2,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PRCT. KRS Capital Management LLC boosted its holdings in PROCEPT BioRobotics by 0.5% in the 4th quarter. KRS Capital Management LLC now owns 46,455 shares of the company's stock valued at $3,741,000 after purchasing an additional 225 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of PROCEPT BioRobotics by 62.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 9,624 shares of the company's stock valued at $775,000 after buying an additional 3,702 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $453,000. Principal Financial Group Inc. grew its position in PROCEPT BioRobotics by 290.2% during the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company's stock worth $5,498,000 after buying an additional 51,030 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in PROCEPT BioRobotics by 45.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock worth $59,974,000 after acquiring an additional 233,430 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 34,000 shares of PROCEPT BioRobotics stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the transaction, the director now owns 164,363 shares in the company, valued at approximately $15,678,586.57. The trade was a 17.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total value of $2,584,668.60. Following the completion of the sale, the chief executive officer now owns 179,185 shares of the company's stock, valued at $17,529,668.55. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 462,816 shares of company stock worth $43,008,799. 17.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They set an "overweight" rating and a $105.00 target price for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Truist Financial reiterated a "buy" rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Wells Fargo & Company restated an "overweight" rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a "hold" rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $97.86.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock traded down $2.82 during midday trading on Friday, hitting $76.02. 984,047 shares of the company traded hands, compared to its average volume of 463,532. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -38.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The firm's fifty day moving average price is $88.52 and its 200-day moving average price is $79.09. PROCEPT BioRobotics Co. has a 12 month low of $44.02 and a 12 month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same period in the prior year, the business earned ($0.51) earnings per share. The company's revenue for the quarter was up 66.4% compared to the same quarter last year. As a group, sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

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).