Nisa Investment Advisors LLC Has $89,000 Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Nisa Investment Advisors LLC boosted its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 178.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,113 shares of the company’s stock after acquiring an additional 713 shares during the quarter. Nisa Investment Advisors LLC’s holdings in PROCEPT BioRobotics were worth $89,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PRCT. M&G Plc acquired a new position in shares of PROCEPT BioRobotics during the second quarter worth about $8,507,000. Federated Hermes Inc. lifted its stake in 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 acquiring an additional 162,785 shares in the last quarter. Nicholas Investment Partners LP bought a new position in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $4,657,000. Vanguard Group Inc. grew its stake in shares of PROCEPT BioRobotics by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after acquiring an additional 62,164 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of PROCEPT BioRobotics by 8.5% in the first quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock valued at $358,000 after purchasing an additional 570 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America raised their target price 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. TD Cowen upped their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Piper Sandler restated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Wells Fargo & Company increased their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $88.40.

PROCEPT BioRobotics Trading Down 2.0 %

Shares of PRCT stock opened at $96.23 on Friday. PROCEPT BioRobotics Co. has a 12-month low of $29.71 and a 12-month high of $99.34. The company has a market capitalization of $5.02 billion, a PE ratio of -49.35 and a beta of 1.01. The firm has a 50 day moving average price of $79.03 and a two-hundred day moving average price of $69.62. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results 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. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same period last year, the firm posted ($0.51) EPS. The firm’s revenue for the quarter was up 66.4% compared to the same quarter last year. As a group, analysts predict that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 34,000 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $95.39, for a total value of $3,243,260.00. Following the completion of the sale, the director now owns 164,363 shares in the company, valued at $15,678,586.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was 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 of the company’s stock, valued at $7,928,880.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Antal Rohit Desai sold 34,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the sale, the director now directly owns 164,363 shares of the company’s stock, valued at $15,678,586.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 535,353 shares of company stock worth $46,627,426. Corporate 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).