KLP Kapitalforvaltning AS Makes New $781,000 Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

KLP Kapitalforvaltning AS purchased a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,700 shares of the company’s stock, valued at approximately $781,000.

Several other large investors also recently made changes to their positions in PRCT. Perpetual Ltd acquired a new position in PROCEPT BioRobotics in the 4th quarter worth $66,972,000. Franklin Resources Inc. lifted its holdings in shares of PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after purchasing an additional 347,330 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of PROCEPT BioRobotics by 218.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock worth $33,350,000 after buying an additional 275,071 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after buying an additional 233,430 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in PROCEPT BioRobotics in the 3rd quarter valued at approximately $11,890,000. Institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Truist Financial restated a “buy” rating and set a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.29.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $58.26 on Tuesday. The firm has a market capitalization of $3.19 billion, a P/E ratio of -29.88 and a beta of 1.05. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $64.98 and its two-hundred day moving average price is $77.66. PROCEPT BioRobotics Co. has a 1 year low of $45.56 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. As a group, research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the company’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 $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Waters sold 733 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock worth $368,322 over the last 90 days. Company insiders own 17.40% of the company’s stock.

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).