Algert Global LLC Purchases 26,440 Shares of PROCEPT BioRobotics Corporation $PRCT

Key Points

• Algert Global LLC increased its holdings in PROCEPT BioRobotics Corporation by 110.9% in Q1, acquiring a total of 50,288 shares valued at approximately $2.93 million.
• Insider trading showed a 63.51% decrease in ownership for Director Antal Rohit Desai, who sold 25,000 shares for over $1.5 million.
• The stock has had a volatile year, with a fifty-two week range between $37.12 and $103.81, and reported revenues of $79.18 million in the last quarter, exceeding expectations.

Algert Global LLC grew its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 110.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,288 shares of the company's stock after acquiring an additional 26,440 shares during the quarter. Algert Global LLC owned about 0.09% of PROCEPT BioRobotics worth $2,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ANTIPODES PARTNERS Ltd purchased a new stake in shares of PROCEPT BioRobotics in the first quarter valued at $30,000. CWM LLC increased its stake in PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after buying an additional 358 shares during the period. Nisa Investment Advisors LLC increased its stake in PROCEPT BioRobotics by 32.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after buying an additional 270 shares during the period. IFP Advisors Inc increased its stake in PROCEPT BioRobotics by 358.9% in the 1st quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock worth $193,000 after buying an additional 2,591 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in PROCEPT BioRobotics in the 4th quarter worth about $207,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the sale, the director directly owned 14,363 shares in the company, valued at approximately $883,180.87. This trade represents a 63.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 100,000 shares of company stock valued at $6,271,250. 17.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRCT. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley reduced their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Stephens began coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target on the stock. Piper Sandler reduced their price target on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Oppenheimer began coverage on shares of PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a "market perform" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.88.

PROCEPT BioRobotics Stock Up 3.1%

NASDAQ PRCT traded up $1.21 during trading on Tuesday, reaching $40.52. 1,109,914 shares of the company's stock traded hands, compared to its average volume of 1,419,301. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -26.14 and a beta of 1.05. The company's 50 day simple moving average is $51.80 and its two-hundred day simple moving average is $56.16. PROCEPT BioRobotics Corporation has a 12-month low of $37.12 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($0.41) by $0.06. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The business had revenue of $79.18 million for the quarter, compared to the consensus estimate of $75.67 million. During the same quarter last year, the firm posted ($0.50) EPS. The company's revenue for the quarter was up 48.3% on a year-over-year basis. As a group, sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

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).