Aquatic Capital Management LLC Invests $1.76 Million in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Aquatic Capital Management LLC purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,910 shares of the company's stock, valued at approximately $1,764,000.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of PROCEPT BioRobotics by 26.7% in the fourth 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. Naviter Wealth LLC increased its position in PROCEPT BioRobotics by 6.0% during the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company's stock worth $249,000 after buying an additional 176 shares in the last quarter. Amundi raised its holdings in shares of PROCEPT BioRobotics by 0.9% in the fourth quarter. Amundi now owns 20,143 shares of the company's stock worth $1,742,000 after acquiring an additional 183 shares during the last quarter. Arizona State Retirement System lifted its position in shares of PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company's stock valued at $1,150,000 after acquiring an additional 218 shares in the last quarter. Finally, KRS Capital Management LLC boosted its stake in shares of PROCEPT BioRobotics by 0.5% during the fourth quarter. KRS Capital Management LLC now owns 46,455 shares of the company's stock valued at $3,741,000 after acquiring an additional 225 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRCT. Truist Financial reduced their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Bank of America lowered their price objective on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Morgan Stanley reduced their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $90.00.

PROCEPT BioRobotics Stock Down 2.1 %

Shares of PRCT stock traded down $1.13 during trading hours on Thursday, hitting $52.85. 820,571 shares of the company were exchanged, compared to its average volume of 807,591. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -27.10 and a beta of 1.09. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81. The business's 50-day simple moving average is $56.89 and its two-hundred day simple moving average is $73.47.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same quarter last year, the firm earned ($0.51) EPS. The business's revenue was up 55.5% on a year-over-year basis. Sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Waters sold 733 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,455 shares of company stock valued at $368,322. Company insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Company 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).