Biondo Investment Advisors LLC Sells 102,510 Shares of PROCEPT BioRobotics Corporation $PRCT

Biondo Investment Advisors LLC trimmed its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 83.7% in the 4th quarter, HoldingsChannel reports. The fund owned 19,925 shares of the company’s stock after selling 102,510 shares during the quarter. Biondo Investment Advisors LLC’s holdings in PROCEPT BioRobotics were worth $627,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new position in shares of PROCEPT BioRobotics in the 4th quarter worth $68,000. Prosight Management LP grew its stake in PROCEPT BioRobotics by 1,692.4% during the 4th quarter. Prosight Management LP now owns 1,380,000 shares of the company’s stock worth $43,415,000 after buying an additional 1,303,009 shares during the last quarter. Archon Capital Management LLC purchased a new position in PROCEPT BioRobotics during the 4th quarter worth $315,000. Segall Bryant & Hamill LLC grew its stake in PROCEPT BioRobotics by 4.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 218,343 shares of the company’s stock worth $6,869,000 after buying an additional 9,804 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in PROCEPT BioRobotics by 23.3% during the 4th quarter. Stifel Financial Corp now owns 15,072 shares of the company’s stock worth $474,000 after buying an additional 2,852 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Stock Down 7.2%

Shares of PRCT stock opened at $25.70 on Friday. The stock’s 50-day simple moving average is $25.84 and its 200-day simple moving average is $28.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The firm has a market capitalization of $1.46 billion, a PE ratio of -14.12 and a beta of 0.85. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $62.17.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). The firm had revenue of $83.13 million during the quarter, compared to analyst estimates of $80.52 million. PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.45) earnings per share. Equities analysts expect that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PRCT shares. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Tuesday, April 21st. Robert W. Baird started coverage on PROCEPT BioRobotics in a research note on Friday, March 6th. They set a “neutral” rating and a $30.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research note on Thursday, April 30th. Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Bank of America downgraded PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $38.00 to $20.00 in a research note on Thursday, February 26th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.36.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 5,363 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $25.96, for a total value of $139,223.48. Following the transaction, the executive vice president directly owned 105,354 shares of the company’s stock, valued at approximately $2,734,989.84. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,373 shares of company stock valued at $196,135 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.

PROCEPT BioRobotics Profile

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.