Deerfield Management Company L.P. Series C Makes New $515,000 Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Deerfield Management Company L.P. Series C acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,426 shares of the company’s stock, valued at approximately $515,000.

A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. raised its position in PROCEPT BioRobotics by 5.7% in the 4th quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock valued at $444,000 after purchasing an additional 568 shares during the last quarter. Hsbc Holdings PLC grew its position in PROCEPT BioRobotics by 31.2% during the 4th quarter. Hsbc Holdings PLC now owns 106,870 shares of the company’s stock worth $4,479,000 after purchasing an additional 25,440 shares during the last quarter. Allianz Asset Management GmbH increased its stake in PROCEPT BioRobotics by 42.9% in the fourth quarter. Allianz Asset Management GmbH now owns 96,635 shares of the company’s stock valued at $4,050,000 after purchasing an additional 28,999 shares during the period. PEAK6 Investments LLC raised its holdings in shares of PROCEPT BioRobotics by 163.1% in the fourth quarter. PEAK6 Investments LLC now owns 45,901 shares of the company’s stock valued at $1,924,000 after buying an additional 28,453 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at about $550,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRCT has been the topic of several recent research reports. Bank of America boosted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company boosted their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial increased their price target on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, TD Cowen boosted their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $78.17.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 44,867 shares of the stock in a transaction dated Thursday, September 12th. The shares were 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 $15,817,959.83. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Antal Rohit Desai sold 44,867 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the transaction, the director now owns 197,453 shares of the company’s stock, valued at $15,817,959.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,892 shares of company stock valued at $12,134,665. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Up 0.3 %

PROCEPT BioRobotics stock opened at $79.53 on Friday. The stock’s 50 day moving average price is $72.35 and its 200 day moving average price is $63.64. PROCEPT BioRobotics Co. has a 1-year low of $24.83 and a 1-year high of $85.81. The company has a market cap of $4.09 billion, a PE ratio of -37.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.02. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company had revenue of $53.35 million for the quarter, compared to analyst estimates of $50.10 million. During the same period in the previous year, the firm earned ($0.56) EPS. The business’s revenue was up 61.2% on a year-over-year basis. On average, sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.88 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).