Evolutionary Tree Capital Management LLC Purchases 16,352 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Evolutionary Tree Capital Management LLC lifted its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 32.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 66,239 shares of the company’s stock after purchasing an additional 16,352 shares during the quarter. PROCEPT BioRobotics comprises approximately 4.2% of Evolutionary Tree Capital Management LLC’s holdings, making the stock its 6th largest holding. Evolutionary Tree Capital Management LLC owned approximately 0.13% of PROCEPT BioRobotics worth $4,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRCT. Vanguard Group Inc. raised its position in PROCEPT BioRobotics by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after purchasing an additional 62,164 shares during the period. Wellington Management Group LLP raised its holdings in shares of PROCEPT BioRobotics by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after buying an additional 260,946 shares during the period. Bellevue Group AG lifted its position in PROCEPT BioRobotics by 0.5% during the 1st quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock worth $43,989,000 after acquiring an additional 4,768 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in PROCEPT BioRobotics by 8.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock worth $31,027,000 after acquiring an additional 51,305 shares during the period. Finally, Point72 Europe London LLP grew its position in PROCEPT BioRobotics by 30.5% in the fourth quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock valued at $22,215,000 after acquiring an additional 123,800 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 35,220 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now owns 23,963 shares of the company’s stock, valued at approximately $1,824,063.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at approximately $7,928,880.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. The disclosure for this sale can be found here. Insiders sold a total of 154,892 shares of company stock worth $12,134,665 over the last ninety days. Company insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Bank of America boosted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Truist Financial boosted their price objective on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. TD Cowen raised their target price 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, Wells Fargo & Company boosted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $78.17.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock opened at $84.99 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $85.81. The company has a fifty day moving average price of $71.24 and a two-hundred day moving average price of $62.66. The company has a market cap of $4.37 billion, a PE ratio of -40.09 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.02. The business had revenue of $53.35 million during the quarter, compared to analyst estimates of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company’s quarterly revenue was up 61.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.56) EPS. Research analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

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).