HighTower Advisors LLC Purchases Shares of 3,486 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

HighTower Advisors LLC acquired 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 fund acquired 3,486 shares of the company’s stock, valued at approximately $279,000.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after acquiring an additional 408 shares in the last quarter. nVerses Capital LLC increased its position in shares of PROCEPT BioRobotics by 300.0% during the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $147,000 after purchasing an additional 1,800 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of PROCEPT BioRobotics by 10.3% in the 2nd quarter. Rhumbline Advisers now owns 61,872 shares of the company’s stock valued at $3,780,000 after purchasing an additional 5,793 shares during the last quarter. Arizona State Retirement System boosted its position in shares of PROCEPT BioRobotics by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after purchasing an additional 350 shares during the period. Finally, Chicago Capital LLC purchased a new position in PROCEPT BioRobotics during the 2nd quarter worth approximately $14,233,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCT has been the subject of a number of recent research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Jefferies Financial Group started coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Finally, TD Cowen boosted their target price on 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 six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.86.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $81.15 on Tuesday. The business has a 50 day moving average price of $88.41 and a 200 day moving average price of $76.35. The company has a market capitalization of $4.23 billion, a P/E ratio of -41.62 and a beta of 0.99. PROCEPT BioRobotics Co. has a 1-year low of $39.48 and a 1-year 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 announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business’s revenue for the quarter was up 66.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) earnings per share. Sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 28,092 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the transaction, the executive vice president now owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. This trade represents a 34.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the sale, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. The trade was a 52.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 487,816 shares of company stock valued at $44,820,549. Company insiders own 17.40% of the company’s stock.

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).