Intech Investment Management LLC Makes New $979,000 Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Intech Investment Management LLC purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,222 shares of the company’s stock, valued at approximately $979,000.

Several other large investors also recently modified their holdings of PRCT. Values First Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in PROCEPT BioRobotics in the 2nd quarter valued at approximately $36,000. Quest Partners LLC grew its stake in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after buying an additional 648 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after buying an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in PROCEPT BioRobotics in the 3rd quarter valued at approximately $120,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at $7,928,880.96. The trade was a 20.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the transaction, the chief executive officer now owns 258,445 shares in the company, valued at $23,518,495. The trade was a 52.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 561,773 shares of company stock valued at $49,073,125 over the last three months. Insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRCT. Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target 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. Piper Sandler reissued an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target for the company. Finally, TD Cowen raised their price target 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $97.29 on Thursday. PROCEPT BioRobotics Co. has a 52-week low of $33.45 and a 52-week high of $103.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The company has a market capitalization of $5.08 billion, a P/E ratio of -50.08 and a beta of 1.01. The company has a fifty day moving average of $83.12 and a 200-day moving average of $73.12.

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

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).