State of New Jersey Common Pension Fund D Decreases Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 12.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 25,424 shares of the company’s stock after selling 3,591 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PROCEPT BioRobotics were worth $2,037,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PRCT. Principal Financial Group Inc. increased its stake in PROCEPT BioRobotics by 290.2% during the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock valued at $5,498,000 after purchasing an additional 51,030 shares in the last quarter. M&G PLC increased its position in shares of PROCEPT BioRobotics by 2.9% in the 3rd quarter. M&G PLC now owns 143,565 shares of the company’s stock valued at $11,485,000 after acquiring an additional 4,103 shares during the period. Sentry Investment Management LLC purchased a new position in PROCEPT BioRobotics in the 3rd quarter worth $120,000. Harbor Capital Advisors Inc. acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth about $3,006,000. Finally, Americana Partners LLC purchased a new stake in PROCEPT BioRobotics during the 3rd quarter valued at about $1,494,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction 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. This represents a 20.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the sale, the director now directly owns 317,518 shares in the company, valued at $24,248,849.66. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 535,353 shares of company stock valued at $46,627,426 over the last ninety days. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock opened at $88.94 on Friday. The firm has a market cap of $4.64 billion, a PE ratio of -45.61 and a beta of 1.01. The business has a 50-day moving average price of $80.97 and a 200 day moving average price of $71.45. 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 Co. has a twelve month low of $31.57 and a twelve month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its 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 the consensus estimate of $53.30 million. During the same period in the prior year, the company posted ($0.51) EPS. The business’s quarterly revenue was up 66.4% on a year-over-year basis. Sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. TD Cowen upped 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. 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. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a report on Thursday. They issued a “hold” rating and a $95.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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).