210,000 Shares in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Purchased by Werba Rubin Papier Wealth Management

Key Points

• Werba Rubin Papier Wealth Management has acquired 210,000 shares of PROCEPT BioRobotics valued at approximately $12.2 million, making it 2.7% of their total holdings and the company's 8th largest stakeholder.
• Several hedge funds have increased their stakes in PROCEPT BioRobotics, indicating growing institutional interest, with about 89.46% of the stock held by institutional investors.
• Wall Street analysts have mixed ratings for PROCEPT BioRobotics, with a consensus rating of "Moderate Buy" and a price target averaging around $84.13, despite some recent price cuts from individual firms.

Werba Rubin Papier Wealth Management bought a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 210,000 shares of the company's stock, valued at approximately $12,235,000. PROCEPT BioRobotics accounts for about 2.7% of Werba Rubin Papier Wealth Management's holdings, making the stock its 8th biggest holding. Werba Rubin Papier Wealth Management owned about 0.38% of PROCEPT BioRobotics at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ensign Peak Advisors Inc boosted its position in PROCEPT BioRobotics by 1.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock valued at $1,141,000 after buying an additional 150 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of PROCEPT BioRobotics by 32.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock valued at $64,000 after acquiring an additional 270 shares in the last quarter. CWM LLC grew its position in PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after acquiring an additional 358 shares during the last quarter. Arizona State Retirement System increased its holdings in PROCEPT BioRobotics by 3.2% in the 1st quarter. Arizona State Retirement System now owns 14,737 shares of the company's stock worth $859,000 after purchasing an additional 452 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in PROCEPT BioRobotics by 11.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,661 shares of the company's stock worth $375,000 after purchasing an additional 483 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PRCT. Truist Financial cut their price target 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. Stephens initiated coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target for the company. Bank of America dropped their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Oppenheimer started coverage on PROCEPT BioRobotics in a research report on Monday, July 7th. They set a "market perform" rating for the company. Finally, Morgan Stanley reduced their price target on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.13.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the sale, the director directly owned 14,363 shares in the company, valued at approximately $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 100,000 shares of company stock worth $6,271,250. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT opened at $55.72 on Monday. The company has a market capitalization of $3.08 billion, a PE ratio of -32.78 and a beta of 1.07. The company has a quick ratio of 7.75, a current ratio of 8.95 and a debt-to-equity ratio of 0.13. PROCEPT BioRobotics Corporation has a twelve month low of $47.04 and a twelve month high of $103.81. The firm has a fifty day simple moving average of $58.97 and a 200 day simple moving average of $60.79.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The business's quarterly revenue was up 55.5% on a year-over-year basis. During the same period last year, the company posted ($0.51) EPS. On average, sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

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).

Want to see what other hedge funds are holding PRCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.