Public Employees Retirement Association of Colorado Takes $303,000 Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Public Employees Retirement Association of Colorado purchased a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,959 shares of the company’s stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in shares of PROCEPT BioRobotics during the second quarter valued at $215,000. Mark Sheptoff Financial Planning LLC bought a new position in PROCEPT BioRobotics in the 2nd quarter worth about $36,000. Renaissance Technologies LLC bought a new position in PROCEPT BioRobotics in the 2nd quarter worth about $2,808,000. Federated Hermes Inc. increased its stake in shares of PROCEPT BioRobotics by 788.9% in the second 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 period. Finally, Nicholas Investment Partners LP bought a new stake in shares of PROCEPT BioRobotics during the second quarter valued at approximately $4,657,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT opened at $79.53 on Friday. The firm has a 50-day moving average of $72.35 and a two-hundred day moving average of $63.64. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -37.51 and a beta of 1.03. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics Co. has a twelve month low of $24.83 and a twelve month high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its 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 business’s quarterly revenue was up 61.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.56) earnings per share. As a group, analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 44,867 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the sale, the director now directly owns 197,453 shares of the company’s stock, valued at $15,817,959.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $80.11, for a total value of $3,594,295.37. Following the transaction, the director now owns 197,453 shares of the company’s stock, valued at approximately $15,817,959.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $2,062,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at $7,928,880.96. The disclosure for this sale can be found here. Insiders sold a total of 154,892 shares of company stock valued at $12,134,665 in the last three months. 17.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on PRCT. Wells Fargo & Company lifted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial upped 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. Bank of America boosted their price target 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. Finally, TD Cowen increased their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of “Buy” and an average target price of $78.17.

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).