Thurston Springer Miller Herd & Titak Inc. Makes New Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,625 shares of the company's stock, valued at approximately $453,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC lifted its holdings in shares of PROCEPT BioRobotics by 0.3% in 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 during the period. Values First Advisors Inc. acquired a new stake in PROCEPT BioRobotics in the third quarter valued at $27,000. KBC Group NV boosted its position in shares of PROCEPT BioRobotics by 32.6% during the 3rd quarter. KBC Group NV now owns 1,531 shares of the company's stock worth $123,000 after purchasing an additional 376 shares in the last quarter. Blue Trust Inc. grew its stake in shares of PROCEPT BioRobotics by 11.7% during the 3rd quarter. Blue Trust Inc. now owns 4,441 shares of the company's stock worth $356,000 after purchasing an additional 466 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of PROCEPT BioRobotics in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 directly owns 258,445 shares in the company, valued at $23,518,495. The trade was a 52.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alaleh Nouri sold 28,092 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction 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 approximately $5,096,605.36. This represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 462,816 shares of company stock worth $43,008,799 over the last three months. 17.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PRCT shares. Wells Fargo & Company reissued an "overweight" rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a "hold" rating and a $95.00 target price on the stock. Truist Financial reissued a "buy" rating and issued a $105.00 price target (up 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 note on Monday, December 2nd. They set an "overweight" rating and a $105.00 price objective on the stock. Finally, Piper Sandler reissued an "overweight" rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $97.86.

PROCEPT BioRobotics Trading Up 0.7 %

NASDAQ:PRCT traded up $0.53 during mid-day trading on Thursday, reaching $78.84. The company's stock had a trading volume of 1,266,159 shares, compared to its average volume of 710,136. The company's fifty day simple moving average is $89.33 and its two-hundred day simple moving average is $78.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a twelve month low of $44.02 and a twelve month high of $103.81. The stock has a market cap of $4.11 billion, a P/E ratio of -40.43 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating 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 company had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. During the same quarter last year, the business earned ($0.51) EPS. PROCEPT BioRobotics's revenue for the quarter was up 66.4% on a year-over-year basis. On average, equities analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

About PROCEPT BioRobotics

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).