Avior Wealth Management LLC grew its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT – Free Report) by 138.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,918 shares of the company’s stock after buying an additional 2,856 shares during the period. Avior Wealth Management LLC’s holdings in PROCEPT BioRobotics were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Thematics Asset Management purchased a new stake in PROCEPT BioRobotics during the 4th quarter worth about $46,000. Signaturefd LLC lifted its holdings in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at about $58,000. WINTON GROUP Ltd purchased a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at about $207,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at about $207,000. 89.46% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on PRCT. Truist Financial reduced their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a report on Friday, April 11th. Morgan Stanley reduced their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Wall Street Zen upgraded PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, Bank of America dropped their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and an average price target of $90.00.
PROCEPT BioRobotics Stock Performance
NASDAQ PRCT opened at $60.22 on Monday. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $56.98 and its two-hundred day moving average is $65.62. PROCEPT BioRobotics Corporation has a 12-month low of $47.04 and a 12-month high of $103.81. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -35.42 and a beta of 1.10.
PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last released its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The company had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $65.39 million. During the same quarter in the previous year, the firm posted ($0.51) EPS. The firm’s quarterly revenue was up 55.5% on a year-over-year basis. Research analysts expect that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.
Insiders Place Their Bets
In related news, Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.79, for a total value of $1,619,750.00. Following the sale, the director now owns 89,363 shares in the company, valued at $5,789,828.77. This represents a 21.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 100,000 shares of company stock worth $6,271,250. Company insiders own 17.40% of the company’s stock.
PROCEPT BioRobotics Profile
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).
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