Algert Global LLC Has $3.06 Million Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Algert Global LLC boosted its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 41.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 38,217 shares of the company’s stock after buying an additional 11,190 shares during the quarter. Algert Global LLC’s holdings in PROCEPT BioRobotics were worth $3,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of PROCEPT BioRobotics by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after acquiring an additional 62,164 shares during the period. Charles Schwab Investment Management Inc. lifted its position in PROCEPT BioRobotics by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company’s stock worth $32,254,000 after purchasing an additional 46,665 shares during the period. Driehaus Capital Management LLC boosted its stake in PROCEPT BioRobotics by 25.9% during the second quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock worth $21,344,000 after buying an additional 71,930 shares in the last quarter. Chicago Capital LLC increased its holdings in PROCEPT BioRobotics by 12.7% in the 3rd quarter. Chicago Capital LLC now owns 262,651 shares of the company’s stock valued at $21,044,000 after buying an additional 29,668 shares during the period. Finally, Federated Hermes Inc. increased its holdings in PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after buying an additional 162,785 shares during the period. 89.46% of the stock is owned by institutional investors.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares in the company, valued at approximately $23,518,495. This trade represents a 52.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Antal Rohit Desai sold 34,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the completion of the transaction, the director now directly owns 164,363 shares in the company, valued at approximately $15,678,586.57. The trade was a 17.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 561,773 shares of company stock valued at $49,073,125 over the last 90 days. 17.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PRCT shares. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective on the stock. Wells Fargo & Company increased their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Finally, TD Cowen increased their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

PROCEPT BioRobotics Stock Up 1.5 %

Shares of NASDAQ:PRCT opened at $99.27 on Wednesday. The company has a 50 day moving average price of $82.73 and a two-hundred day moving average price of $72.86. The company has a market capitalization of $5.18 billion, a PE ratio of -50.91 and a beta of 1.01. PROCEPT BioRobotics Co. has a 52 week low of $33.45 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 issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm’s revenue was up 66.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) EPS. Analysts forecast that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current 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).