Avior Wealth Management LLC Has $288,000 Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Avior Wealth Management LLC grew its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 6,823.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,600 shares of the company’s stock after buying an additional 3,548 shares during the period. Avior Wealth Management LLC’s holdings in PROCEPT BioRobotics were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Chicago Capital LLC bought a new stake in PROCEPT BioRobotics in the second quarter valued at approximately $14,233,000. Federated Hermes Inc. boosted its stake in shares of PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after purchasing an additional 162,785 shares during the last quarter. Transatlantique Private Wealth LLC bought a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at $9,164,000. M&G Plc acquired a new stake in shares of PROCEPT BioRobotics during the second quarter worth $8,507,000. Finally, Nicholas Investment Partners LP bought a new position in PROCEPT BioRobotics during the second quarter worth $4,657,000. 89.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Reza Zadno sold 26,420 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total value of $2,445,699.40. Following the completion of the sale, the chief executive officer now directly owns 205,605 shares of the company’s stock, valued at $19,032,854.85. This represents a 11.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 44,867 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $80.11, for a total value of $3,594,295.37. Following the completion of the transaction, the director now owns 197,453 shares in the company, valued at $15,817,959.83. This represents a 18.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 561,773 shares of company stock worth $49,073,125 in the last quarter. Insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Trading Down 0.9 %

Shares of PROCEPT BioRobotics stock opened at $93.60 on Friday. 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 Co. has a 52 week low of $33.45 and a 52 week high of $103.81. The stock has a 50 day moving average price of $82.16 and a two-hundred day moving average price of $72.24. The stock has a market capitalization of $4.88 billion, a PE ratio of -48.71 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data 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. 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 company posted ($0.51) earnings per share. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PRCT has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Finally, Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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).