Driehaus Capital Management LLC Reduces Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Driehaus Capital Management LLC decreased its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,135 shares of the company's stock after selling 33,886 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.61% of PROCEPT BioRobotics worth $25,616,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. bought a new stake in PROCEPT BioRobotics during the fourth quarter worth about $32,000. Thematics Asset Management purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $46,000. Signaturefd LLC raised its holdings in shares of PROCEPT BioRobotics by 26.7% during 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. IFP Advisors Inc purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $58,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics during the third quarter valued at approximately $64,000. Institutional investors own 89.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PRCT shares. Bank of America reduced their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley dropped their target price 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $90.00.

PROCEPT BioRobotics Stock Down 2.6%

PROCEPT BioRobotics stock traded down $1.40 during midday trading on Tuesday, hitting $53.04. 1,292,402 shares of the company's stock were exchanged, compared to its average volume of 807,180. PROCEPT BioRobotics Co. has a 12 month low of $47.04 and a 12 month high of $103.81. The company has a market cap of $2.93 billion, a PE ratio of -27.20 and a beta of 1.10. 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 moving average of $55.48 and a two-hundred day moving average of $72.80.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $69.16 million for the quarter, compared to analysts' expectations of $65.39 million. During the same period last year, the business earned ($0.51) EPS. The company's revenue was up 55.5% compared to the same quarter last year. As a group, analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics 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 transaction, the chief financial officer now owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Reza Zadno sold 5,475 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 $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at $9,875,374.20. This represents a 3.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,455 shares of company stock worth $368,322. Company insiders own 6.60% 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).