Biondo Investment Advisors LLC Raises Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Biondo Investment Advisors LLC lifted its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,970 shares of the company's stock after acquiring an additional 13,260 shares during the quarter. Biondo Investment Advisors LLC owned 0.22% of PROCEPT BioRobotics worth $9,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Signaturefd LLC grew its holdings in PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after acquiring an additional 145 shares in the last quarter. Naviter Wealth LLC lifted its position in shares of PROCEPT BioRobotics by 6.0% during the 4th quarter. Naviter Wealth LLC now owns 3,089 shares of the company's stock worth $249,000 after purchasing an additional 176 shares during the last quarter. Amundi grew its stake in shares of PROCEPT BioRobotics by 0.9% during the fourth quarter. Amundi now owns 20,143 shares of the company's stock worth $1,742,000 after purchasing an additional 183 shares in the last quarter. Arizona State Retirement System increased its holdings in PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company's stock valued at $1,150,000 after buying an additional 218 shares during the last quarter. Finally, KRS Capital Management LLC raised its stake in PROCEPT BioRobotics by 0.5% in the fourth quarter. KRS Capital Management LLC now owns 46,455 shares of the company's stock valued at $3,741,000 after buying an additional 225 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Truist Financial reiterated a "buy" rating and issued a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Finally, Morgan Stanley reduced their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.29.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the sale, the chief executive officer now owns 173,070 shares of the company's stock, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,455 shares of company stock worth $368,322. Company insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT traded up $0.96 on Wednesday, reaching $58.05. The stock had a trading volume of 265,649 shares, compared to its average volume of 751,019. The stock has a market cap of $3.18 billion, a P/E ratio of -29.77 and a beta of 1.05. PROCEPT BioRobotics Co. has a 12-month low of $45.56 and a 12-month high of $103.81. The business's 50-day moving average price is $64.98 and its 200 day moving average price is $77.66. 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 Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $68.24 million during the quarter, compared to analysts' expectations of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, equities analysts expect that PROCEPT BioRobotics Co. will post -1.75 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).