Entropy Technologies LP Makes New Investment in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Entropy Technologies LP has acquired 7,100 shares of PROCEPT BioRobotics Corporation, valued at approximately $414,000, during the first quarter of the year.
• A notable insider transaction occurred when Director Antal Rohit Desai sold 25,000 shares for over $1.5 million, significantly reducing his ownership by 63.51%.
• Recent analysts' ratings for PROCEPT BioRobotics include an "overweight" rating with a target price of $70.00 from Stephens, while Bank of America has set a reduced target of $84.00.

Entropy Technologies LP bought a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,100 shares of the company's stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRCT. Baillie Gifford & Co. acquired a new stake in PROCEPT BioRobotics during the 1st quarter worth approximately $18,287,000. Invesco Ltd. increased its position in PROCEPT BioRobotics by 86.2% during the 4th quarter. Invesco Ltd. now owns 499,949 shares of the company's stock worth $40,256,000 after purchasing an additional 231,470 shares in the last quarter. Westfield Capital Management Co. LP increased its position in PROCEPT BioRobotics by 43.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 748,557 shares of the company's stock worth $43,611,000 after purchasing an additional 225,894 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new stake in PROCEPT BioRobotics during the 4th quarter worth approximately $18,145,000. Finally, Werba Rubin Papier Wealth Management acquired a new stake in PROCEPT BioRobotics during the 1st quarter worth approximately $12,235,000. Institutional investors and hedge funds own 89.46% of the company's stock.

Insider Activity

In related news, Director Antal Rohit Desai sold 25,000 shares of the company's 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 sale, the director directly owned 14,363 shares of the company's stock, valued at approximately $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 100,000 shares of company stock worth $6,271,250. Corporate insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock traded down $0.55 on Monday, hitting $41.04. 217,971 shares of the stock traded hands, compared to its average volume of 1,022,556. 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 company has a market capitalization of $2.28 billion, a PE ratio of -26.45 and a beta of 1.05. PROCEPT BioRobotics Corporation has a 1-year low of $37.12 and a 1-year high of $103.81. The company's fifty day moving average is $54.81 and its 200 day moving average is $57.60.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. The business had revenue of $79.18 million for the quarter, compared to analyst estimates of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%. The business's revenue was up 48.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.50) EPS. On average, equities research analysts predict that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Stephens started coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target for the company. Piper Sandler decreased their price target on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Bank of America decreased their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, PROCEPT BioRobotics has an average rating of "Moderate Buy" and a consensus price target 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).