Avior Wealth Management LLC Acquires 3,548 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Avior Wealth Management LLC raised its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 6,823.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the company’s stock after purchasing an additional 3,548 shares during the quarter. Avior Wealth Management LLC’s holdings in PROCEPT BioRobotics were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRCT. Chicago Capital LLC acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth about $14,233,000. Federated Hermes Inc. lifted its position in PROCEPT BioRobotics by 788.9% during the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after acquiring an additional 162,785 shares during the last quarter. Transatlantique Private Wealth LLC bought a new stake in shares of PROCEPT BioRobotics during the second quarter worth approximately $9,164,000. M&G Plc acquired a new position in shares of PROCEPT BioRobotics in the second quarter valued at approximately $8,507,000. Finally, Nicholas Investment Partners LP acquired a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $4,657,000. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Stock Down 0.9 %

NASDAQ PRCT opened at $93.60 on Friday. The business has a fifty day moving average price of $82.16 and a two-hundred day moving average price of $72.24. The stock has a market capitalization of $4.88 billion, a PE ratio of -48.71 and a beta of 1.01. PROCEPT BioRobotics Co. has a fifty-two week low of $33.45 and a fifty-two week high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. PROCEPT BioRobotics’s revenue was up 66.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.51) earnings per share. Equities analysts expect that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 52.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 44,867 shares of the company’s 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 completion of the transaction, the director now directly owns 197,453 shares of the company’s stock, valued at approximately $15,817,959.83. The trade was a 18.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 561,773 shares of company stock worth $49,073,125. Corporate insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCT has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen boosted their price target 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, Truist Financial reissued a “buy” rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

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).