Penserra Capital Management LLC Purchases New Shares in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Penserra Capital Management LLC bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,818 shares of the company's stock, valued at approximately $2,308,000. Penserra Capital Management LLC owned 0.06% of PROCEPT BioRobotics at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Algert Global LLC increased its stake in PROCEPT BioRobotics by 41.4% during the 3rd quarter. Algert Global LLC now owns 38,217 shares of the company's stock worth $3,062,000 after acquiring an additional 11,190 shares during the period. Charles Schwab Investment Management Inc. increased its stake in PROCEPT BioRobotics by 13.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company's stock worth $32,254,000 after acquiring an additional 46,665 shares during the period. Intech Investment Management LLC bought a new position in PROCEPT BioRobotics during the 3rd quarter worth $979,000. Advisors Asset Management Inc. increased its stake in PROCEPT BioRobotics by 28.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 12,350 shares of the company's stock worth $989,000 after acquiring an additional 2,758 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at $1,371,000. Institutional investors own 89.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PRCT. Bank of America raised 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 reaffirmed an "overweight" rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. TD Cowen boosted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Truist Financial reaffirmed a "buy" rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Finally, 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 report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $89.50.

PROCEPT BioRobotics Trading Up 1.5 %

PRCT traded up $1.49 during trading on Tuesday, hitting $99.27. 635,186 shares of the stock traded hands, compared to its average volume of 656,847. The firm has a market capitalization of $5.18 billion, a P/E ratio of -50.14 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The firm has a 50-day moving average of $82.73 and a 200 day moving average of $72.86. PROCEPT BioRobotics Co. has a 12-month low of $33.45 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) 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 business had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. PROCEPT BioRobotics's quarterly revenue was up 66.4% on a year-over-year basis. Equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 35,220 shares of the stock in a transaction on 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 59.51 % 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, CFO Kevin Waters sold 25,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at $7,928,880.96. This represents a 20.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 561,773 shares of company stock worth $49,073,125. 17.40% of the stock is owned by company insiders.

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).