Oppenheimer & Co. Inc. Invests $842,000 in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Oppenheimer & Co. Inc. acquired a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,503 shares of the company's stock, valued at approximately $842,000.

Other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. bought a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of PROCEPT BioRobotics in the second quarter valued at approximately $36,000. Quest Partners LLC boosted its holdings in shares of PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company's stock worth $41,000 after acquiring an additional 648 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock worth $89,000 after acquiring an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in PROCEPT BioRobotics during the 3rd quarter valued at $120,000. 89.46% of the stock is currently owned by institutional investors.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were 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. The trade was a 52.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $2,680,946.40. Following the completion of the sale, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. The trade was a 59.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 535,353 shares of company stock valued at $46,627,426. 17.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group started 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. Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Bank of America boosted their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. TD Cowen increased their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.50.

PROCEPT BioRobotics Trading Down 0.9 %

PRCT stock traded down $0.87 during midday trading on Wednesday, hitting $92.70. 433,585 shares of the company's stock were exchanged, compared to its average volume of 659,946. PROCEPT BioRobotics Co. has a one year low of $31.57 and a one year high of $103.81. The stock's fifty day moving average price is $81.88 and its 200-day moving average price is $72.08. The company has a market cap of $4.84 billion, a PE ratio of -47.54 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

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