KLP Kapitalforvaltning AS Makes New Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

KLP Kapitalforvaltning AS acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,700 shares of the company’s stock, valued at approximately $781,000.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC increased its holdings in PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares in the last quarter. Naviter Wealth LLC grew its holdings in shares of PROCEPT BioRobotics by 6.0% during the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock worth $249,000 after purchasing an additional 176 shares during the last quarter. Amundi increased its stake in shares of PROCEPT BioRobotics by 0.9% in the fourth quarter. Amundi now owns 20,143 shares of the company’s stock valued at $1,742,000 after buying an additional 183 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock valued at $1,150,000 after buying an additional 218 shares during the last quarter. Finally, KRS Capital Management LLC lifted its position in PROCEPT BioRobotics by 0.5% during the 4th quarter. KRS Capital Management LLC now owns 46,455 shares of the company’s stock worth $3,741,000 after buying an additional 225 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Insider Activity at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 5,475 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now owns 173,070 shares of the company’s stock, valued at $9,875,374.20. The trade was a 3.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Waters sold 733 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock worth $368,322 in the last ninety days. Company insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRCT. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Truist Financial restated a “buy” rating and issued a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.29.

PROCEPT BioRobotics Price Performance

PRCT opened at $58.26 on Tuesday. The company has a fifty day moving average price of $64.98 and a two-hundred day moving average price of $77.66. The firm has a market capitalization of $3.19 billion, a PE ratio of -29.88 and a beta of 1.05. PROCEPT BioRobotics Co. has a 52 week low of $45.56 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.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. As a group, analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current 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).