Perpetual Ltd Takes $66.97 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Perpetual Ltd purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 831,739 shares of the company's stock, valued at approximately $66,972,000. Perpetual Ltd owned about 1.59% of PROCEPT BioRobotics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. KRS Capital Management LLC lifted its position in shares of PROCEPT BioRobotics by 0.5% during the fourth quarter. KRS Capital Management LLC now owns 46,455 shares of the company's stock worth $3,741,000 after purchasing an additional 225 shares during the last quarter. Essex Investment Management Co. LLC lifted its holdings in PROCEPT BioRobotics by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company's stock valued at $6,489,000 after buying an additional 228 shares in the last quarter. Values First Advisors Inc. purchased a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $27,000. KBC Group NV boosted its position in PROCEPT BioRobotics by 32.6% in the 3rd quarter. KBC Group NV now owns 1,531 shares of the company's stock valued at $123,000 after buying an additional 376 shares during the period. Finally, Blue Trust Inc. increased its position in shares of PROCEPT BioRobotics by 11.7% during the third quarter. Blue Trust Inc. now owns 4,441 shares of the company's stock worth $356,000 after acquiring an additional 466 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 8.2 %

NASDAQ:PRCT traded down $6.27 during midday trading on Tuesday, reaching $69.75. 2,917,622 shares of the stock traded hands, compared to its average volume of 916,909. The stock has a market capitalization of $3.64 billion, a PE ratio of -35.77 and a beta of 1.05. PROCEPT BioRobotics Co. has a 12-month low of $44.51 and a 12-month high of $103.81. 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 business has a 50-day moving average of $88.09 and a two-hundred day moving average of $79.18.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $58.40 million during the quarter, compared to analysts' expectations of $53.30 million. During the same quarter last year, the firm earned ($0.51) EPS. The business's quarterly revenue was up 66.4% on a year-over-year basis. On average, equities analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Alaleh Nouri sold 28,092 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following the completion of the transaction, the executive vice president now directly owns 52,472 shares in the company, valued at $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Antal Rohit Desai sold 33,000 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $96.60, for a total value of $3,187,800.00. Following the sale, the director now directly owns 231,363 shares of the company's stock, valued at $22,349,665.80. This trade represents a 12.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 462,816 shares of company stock worth $43,008,799 over the last 90 days. 17.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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).