Intech Investment Management LLC Acquires Shares of 12,222 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Intech Investment Management LLC acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,222 shares of the company’s stock, valued at approximately $979,000.

Other hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in shares of PROCEPT BioRobotics in the third quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of PROCEPT BioRobotics during the second quarter valued at about $36,000. Quest Partners LLC increased its position in shares of PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after buying an additional 648 shares during the period. Nisa Investment Advisors LLC increased its position in shares of PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after buying an additional 713 shares during the period. Finally, Sentry Investment Management LLC purchased a new position in shares of PROCEPT BioRobotics during the third quarter valued at about $120,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the company’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 of the company’s stock, valued at approximately $23,518,495. This represents a 52.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Antal Rohit Desai sold 13,305 shares of the company’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 sale, the director now directly owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 561,773 shares of company stock worth $49,073,125 over the last quarter. Company insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRCT. TD Cowen boosted their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. 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. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price target on the stock. Bank of America upped their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Truist Financial restated a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.50.

PROCEPT BioRobotics Trading Down 2.0 %

Shares of NASDAQ PRCT opened at $97.29 on Thursday. The firm’s 50 day moving average price is $83.12 and its 200-day moving average price is $73.12. The company has a market cap of $5.08 billion, a PE ratio of -50.08 and a beta of 1.01. PROCEPT BioRobotics Co. has a 52-week low of $33.45 and a 52-week high of $103.81. 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) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business’s revenue was up 66.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. On average, equities research analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

PROCEPT BioRobotics 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).