Y Intercept Hong Kong Ltd Invests $1.08 Million in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Y Intercept Hong Kong Ltd acquired a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,489 shares of the company's stock, valued at approximately $1,081,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its position in shares of PROCEPT BioRobotics by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company's stock worth $6,489,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of PROCEPT BioRobotics in the third quarter valued at approximately $27,000. Arizona State Retirement System boosted its position in shares of PROCEPT BioRobotics by 2.8% during the second quarter. Arizona State Retirement System now owns 12,840 shares of the company's stock valued at $784,000 after buying an additional 350 shares during the last quarter. KBC Group NV grew its holdings in PROCEPT BioRobotics by 32.6% during the third quarter. KBC Group NV now owns 1,531 shares of the company's stock worth $123,000 after buying an additional 376 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in PROCEPT BioRobotics by 4.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company's stock valued at $606,000 after buying an additional 408 shares during the last quarter. Institutional investors own 89.46% of the company's stock.

Insider Activity

In other news, CEO Reza Zadno sold 288,461 shares of the stock in a transaction that occurred 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 represents a 52.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction on Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. The trade was a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 512,816 shares of company stock worth $46,883,299. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Down 0.6 %

NASDAQ:PRCT traded down $0.57 during trading hours on Friday, hitting $89.24. 487,965 shares of the company's stock traded hands, compared to its average volume of 649,599. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business's fifty day simple moving average is $86.71 and its two-hundred day simple moving average is $75.31. PROCEPT BioRobotics Co. has a 52 week low of $39.48 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its 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 business had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same period last year, the firm posted ($0.51) earnings per share. PROCEPT BioRobotics's quarterly revenue 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 fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial reissued a "buy" rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Morgan Stanley started coverage on PROCEPT BioRobotics in a report on Monday, December 2nd. They issued an "overweight" rating and a $105.00 target price for the company. Wells Fargo & Company reiterated an "overweight" rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. 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 note on Monday, September 16th. Finally, Jefferies Financial Group started coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a "hold" rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.86.

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).