Diversified Trust Co Grows Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Diversified Trust Co boosted its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 25.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,442 shares of the company’s stock after buying an additional 2,725 shares during the period. Diversified Trust Co’s holdings in PROCEPT BioRobotics were worth $664,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PRCT. Amalgamated Bank lifted its stake in PROCEPT BioRobotics by 5.8% during the fourth quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock worth $243,000 after purchasing an additional 316 shares in the last quarter. Principal Financial Group Inc. increased its stake in PROCEPT BioRobotics by 5.7% during the fourth quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock worth $444,000 after purchasing an additional 568 shares during the period. Blue Trust Inc. lifted its position in shares of PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after purchasing an additional 620 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PROCEPT BioRobotics by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,397 shares of the company’s stock valued at $394,000 after purchasing an additional 676 shares during the period. Finally, M&T Bank Corp increased its stake in PROCEPT BioRobotics by 17.8% during the 4th quarter. M&T Bank Corp now owns 10,513 shares of the company’s stock worth $441,000 after buying an additional 1,591 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $63.62 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.52 and a quick ratio of 7.44. PROCEPT BioRobotics Co. has a 1-year low of $24.83 and a 1-year high of $77.00. The stock has a market cap of $3.27 billion, a PE ratio of -30.01 and a beta of 1.00. The firm has a fifty day moving average price of $63.22 and a 200 day moving average price of $52.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. The firm had revenue of $44.50 million during the quarter, compared to analysts’ expectations of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The business’s revenue was up 82.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.63) EPS. As a group, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.93 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Cowen boosted their price target on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Truist Financial increased their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Piper Sandler lifted their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $61.20.

Insider Transactions at PROCEPT BioRobotics

In related news, Director Thomas M. Krummel sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. Following the transaction, the director now owns 45,631 shares in the company, valued at approximately $2,737,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Hisham Shiblaq sold 26,046 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $68.24, for a total value of $1,777,379.04. Following the completion of the sale, the executive vice president now owns 55,860 shares in the company, valued at $3,811,886.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas M. Krummel sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the transaction, the director now owns 45,631 shares in the company, valued at $2,737,860. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,478 shares of company stock worth $5,515,482. Insiders own 17.40% of the company’s stock.

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).