PROCEPT BioRobotics Corporation $PRCT Shares Acquired by Algert Global LLC

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 stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 110.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other institutional investors and hedge funds 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 first quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after purchasing an additional 358 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in PROCEPT BioRobotics by 32.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock valued at $64,000 after purchasing an additional 270 shares during the last quarter. Freestone Grove Partners LP acquired a new position in PROCEPT BioRobotics in the fourth quarter valued at $207,000. Finally, Tower Research Capital LLC TRC increased its stake in PROCEPT BioRobotics by 187.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,776 shares of the company's stock valued at $224,000 after purchasing an additional 1,809 shares during the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT traded down $1.5340 during trading hours on Monday, reaching $39.6960. 621,459 shares of the stock were exchanged, compared to its average volume of 1,016,788. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $52.59 and a 200-day simple moving average of $56.48. PROCEPT BioRobotics Corporation has a 52 week low of $37.12 and a 52 week high of $103.81. The stock has a market capitalization of $2.21 billion, a P/E ratio of -25.58 and a beta of 1.05.

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

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the transaction, the director owned 14,363 shares of the company's stock, valued at $883,180.87. This trade represents a 63.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 100,000 shares of company stock worth $6,271,250. Company insiders own 17.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PRCT shares. Piper Sandler dropped their target price on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company dropped their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Oppenheimer initiated coverage on PROCEPT BioRobotics in a research note on Monday, July 7th. They set a "market perform" rating for the company. Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Stephens initiated coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.88.

About PROCEPT BioRobotics

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).