PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC increased its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 144.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,313 shares of the company’s stock after buying an additional 38,013 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in PROCEPT BioRobotics were worth $3,929,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PRCT. Deerfield Management Company L.P. Series C purchased a new stake in PROCEPT BioRobotics in the second quarter valued at approximately $515,000. AQR Capital Management LLC purchased a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at $314,000. Caxton Associates LP purchased a new stake in PROCEPT BioRobotics in the second quarter valued at $430,000. Marshall Wace LLP purchased a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at about $567,000. Finally, Evolutionary Tree Capital Management LLC lifted its holdings in shares of PROCEPT BioRobotics by 32.8% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 66,239 shares of the company’s stock valued at $4,047,000 after buying an additional 16,352 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Up 0.3 %

Shares of PRCT opened at $79.53 on Friday. The stock has a 50 day moving average price of $72.35 and a 200 day moving average price of $63.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of -37.51 and a beta of 1.03. PROCEPT BioRobotics Co. has a one year low of $24.83 and a one year high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $50.10 million. During the same quarter in the prior year, the company earned ($0.56) EPS. PROCEPT BioRobotics’s revenue was up 61.2% compared to the same quarter last year. Equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

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 stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at $7,928,880.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Antal Rohit Desai sold 13,305 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 154,892 shares of company stock worth $12,134,665 over the last ninety days. Corporate 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).