Quantbot Technologies LP Sells 11,612 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Quantbot Technologies LP reduced its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 37.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,277 shares of the company's stock after selling 11,612 shares during the period. Quantbot Technologies LP's holdings in PROCEPT BioRobotics were worth $1,544,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PRCT. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics in the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in PROCEPT BioRobotics during the 2nd quarter valued at approximately $36,000. Quest Partners LLC grew its stake in PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company's stock worth $41,000 after buying an additional 648 shares during the last quarter. Canton Hathaway LLC acquired a new stake in PROCEPT BioRobotics in the third quarter worth $66,000. Finally, Nisa Investment Advisors LLC increased its position in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock worth $89,000 after buying an additional 713 shares during the period. 89.46% of the stock is currently owned by institutional investors.

Insider Transactions at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction on 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 completion of the sale, the chief executive officer now owns 258,445 shares of the company's stock, valued at approximately $23,518,495. This trade represents a 52.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $2,062,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares of the company's stock, valued at $7,928,880.96. This trade represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,773 shares of company stock valued at $49,073,125 over the last three months. 17.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PRCT shares. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a "hold" rating and a $95.00 target price for the company. Bank of America raised their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. Piper Sandler reiterated an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. TD Cowen raised their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a report on Monday, September 16th. Finally, Wells Fargo & Company upped their price objective 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $89.50.

PROCEPT BioRobotics Trading Down 1.7 %

Shares of NASDAQ:PRCT traded down $1.70 during midday trading on Friday, reaching $95.59. The company had a trading volume of 367,358 shares, compared to its average volume of 655,153. The company has a fifty day simple moving average of $83.90 and a two-hundred day simple moving average of $73.74. 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 has a market cap of $4.99 billion, a price-to-earnings ratio of -49.02 and a beta of 1.01. PROCEPT BioRobotics Co. has a 1-year low of $36.15 and a 1-year 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 analysts' consensus estimates 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 firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same quarter last year, the business posted ($0.51) EPS. The company's revenue was up 66.4% on a year-over-year basis. Research analysts predict that PROCEPT BioRobotics Co. will post -1.73 earnings per share for the current year.

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).