Bellevue Group AG Sells 149,797 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Bellevue Group AG reduced its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 24.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,894 shares of the company's stock after selling 149,797 shares during the period. Bellevue Group AG owned 0.89% of PROCEPT BioRobotics worth $37,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. bought a new position in PROCEPT BioRobotics during the fourth quarter valued at $32,000. Thematics Asset Management bought a new stake in PROCEPT BioRobotics in the fourth quarter worth $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 worth $55,000 after acquiring an additional 145 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth about $58,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in PROCEPT BioRobotics in the 3rd quarter worth about $64,000. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Trading Up 5.2 %

NASDAQ:PRCT opened at $55.62 on Friday. 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 firm has a 50-day simple moving average of $56.75 and a 200-day simple moving average of $73.36. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81. The firm has a market cap of $3.08 billion, a P/E ratio of -28.52 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly 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 firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same period in the previous year, the company posted ($0.51) EPS. The business's revenue for the quarter was up 55.5% compared to the same quarter last year. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kevin Waters sold 733 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 5,475 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 transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock worth $368,322 in the last 90 days. 17.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PRCT shares. Truist Financial reduced their target price on 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 reduced their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Morgan Stanley lowered their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.00.

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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