Handelsbanken Fonder AB Has $1.25 Million Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Handelsbanken Fonder AB increased its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 28.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,600 shares of the company’s stock after acquiring an additional 3,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in PROCEPT BioRobotics were worth $1,250,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PRCT. Mark Sheptoff Financial Planning LLC purchased a new position in PROCEPT BioRobotics during the 2nd quarter worth approximately $36,000. Quest Partners LLC grew its holdings in shares of PROCEPT BioRobotics by 2,492.3% during the second 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. Fairman Group LLC acquired a new position in PROCEPT BioRobotics during the fourth quarter valued at $84,000. Canada Pension Plan Investment Board purchased a new stake in PROCEPT BioRobotics in the 2nd quarter worth about $128,000. Finally, RiverPark Advisors LLC acquired a new stake in PROCEPT BioRobotics during the 2nd quarter worth about $135,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 35,220 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the completion of the sale, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the transaction, the director now owns 23,963 shares in the company, valued at $1,824,063.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction dated 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 owns 96,096 shares of the company’s stock, valued at $7,928,880.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,892 shares of company stock worth $12,134,665 over the last 90 days. Insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRCT. Wells Fargo & Company upped 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 target price on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. TD Cowen lifted their target price 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. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday. Finally, Bank of America lifted 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $78.17.

PROCEPT BioRobotics Stock Down 0.8 %

PRCT stock opened at $71.70 on Friday. The firm has a market cap of $3.69 billion, a PE ratio of -33.82 and a beta of 1.03. PROCEPT BioRobotics Co. has a 1 year low of $24.83 and a 1 year high of $85.81. The company has a fifty day simple moving average of $74.37 and a 200 day simple moving average of $65.42. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.02. The company had revenue of $53.35 million during the quarter, compared to analysts’ expectations of $50.10 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The business’s quarterly revenue was up 61.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. Sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.88 EPS for the current fiscal year.

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).