Summit Partners Public Asset Management LLC Reduces Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Summit Partners Public Asset Management LLC reduced its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 28.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 543,046 shares of the company's stock after selling 219,648 shares during the quarter. PROCEPT BioRobotics accounts for approximately 1.3% of Summit Partners Public Asset Management LLC's portfolio, making the stock its 17th largest holding. Summit Partners Public Asset Management LLC owned 1.04% of PROCEPT BioRobotics worth $43,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. PEAK6 Investments LLC purchased a new stake in PROCEPT BioRobotics during the third quarter worth $353,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of PROCEPT BioRobotics by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,460 shares of the company's stock worth $9,331,000 after buying an additional 3,083 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PROCEPT BioRobotics by 34.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,316 shares of the company's stock worth $1,067,000 after buying an additional 3,403 shares in the last quarter. Canton Hathaway LLC acquired a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $66,000. Finally, Westfield Capital Management Co. LP purchased a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $72,563,000. Institutional investors and hedge funds own 89.46% of the company's stock.

Insider Buying and Selling

In other news, CEO Reza Zadno sold 26,420 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the completion of the sale, the chief executive officer now owns 205,605 shares in the company, valued at approximately $19,032,854.85. The trade was a 11.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Antal Rohit Desai sold 13,305 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the transaction, the director now owns 317,518 shares in the company, valued at $24,248,849.66. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 561,773 shares of company stock valued at $49,073,125. Insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Trading Down 1.7 %

Shares of PROCEPT BioRobotics stock traded down $1.70 during trading hours on Friday, reaching $95.59. 367,358 shares of the company's stock were exchanged, compared to its average volume of 655,153. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -49.89 and a beta of 1.01. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 52-week low of $36.15 and a 52-week high of $103.81. The company has a fifty day moving average of $83.69 and a 200-day moving average of $73.45.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $53.30 million. During the same period in the prior year, the business posted ($0.51) earnings per share. The firm's revenue for the quarter was up 66.4% compared to the same quarter last year. Sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRCT. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a "hold" rating and a $95.00 price target on the stock. Truist Financial reiterated a "buy" rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Piper Sandler reissued an "overweight" rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. TD Cowen upped 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, Bank of America boosted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. 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, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and an average price target of $89.50.

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).