Capital Fund Management S.A. Takes $1.08 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Capital Fund Management S.A. purchased a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,348 shares of the company’s stock, valued at approximately $1,075,000.

A number of other institutional investors have also added to or reduced their stakes in PRCT. Lord Abbett & CO. LLC grew its position in shares of PROCEPT BioRobotics by 45.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after buying an additional 233,430 shares during the period. Perpetual Ltd purchased a new stake in PROCEPT BioRobotics in the fourth quarter worth about $66,972,000. Oak Ridge Investments LLC increased its stake in shares of PROCEPT BioRobotics by 24.0% during the fourth quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock valued at $2,420,000 after purchasing an additional 5,817 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of PROCEPT BioRobotics by 295.8% during the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company’s stock valued at $531,000 after purchasing an additional 4,931 shares during the last quarter. Finally, Chicago Capital LLC boosted its position in shares of PROCEPT BioRobotics by 44.5% in the 4th quarter. Chicago Capital LLC now owns 379,582 shares of the company’s stock worth $30,564,000 after purchasing an additional 116,931 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRCT. Morgan Stanley lowered their price objective on 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 reduced their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.43.

Insider Buying and Selling

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

PROCEPT BioRobotics Trading Down 1.6 %

Shares of NASDAQ:PRCT opened at $52.92 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a 1 year low of $47.04 and a 1 year high of $103.81. The company has a market cap of $2.90 billion, a P/E ratio of -27.14 and a beta of 1.09. The stock’s fifty day moving average price is $60.44 and its 200-day moving average price is $75.32.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $66.79 million. Sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.75 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).