16,000 Shares in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Acquired by Generali Investments Towarzystwo Funduszy Inwestycyjnych

Key Points

• Generali Investments acquired a new stake in PROCEPT BioRobotics, purchasing 16,000 shares valued at approximately $932,000.
• Insider activity revealed that Director Antal Rohit Desai sold 25,000 shares of company stock for a total of $1.54 million, marking a significant decrease in ownership.
• PROCEPT BioRobotics has received mixed analyst ratings from brokerages, with a consensus showing a "Moderate Buy" and an average target price of $84.13.

Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired 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 Securities and Exchange Commission (SEC). The firm acquired 16,000 shares of the company's stock, valued at approximately $932,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in PROCEPT BioRobotics by 11.9% in the fourth quarter. FMR LLC now owns 8,159,208 shares of the company's stock worth $656,979,000 after acquiring an additional 866,328 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in PROCEPT BioRobotics in the first quarter valued at $18,287,000. Renaissance Technologies LLC acquired a new position in PROCEPT BioRobotics during the fourth quarter worth about $22,422,000. Invesco Ltd. increased its position in PROCEPT BioRobotics by 86.2% during the fourth quarter. Invesco Ltd. now owns 499,949 shares of the company's stock worth $40,256,000 after buying an additional 231,470 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at $18,145,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PRCT. Piper Sandler cut their target price on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday. Morgan Stanley reduced their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Bank of America reduced their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Oppenheimer initiated coverage on PROCEPT BioRobotics in a report on Monday, July 7th. They issued a "market perform" rating on the stock. Finally, Truist Financial cut their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of "Moderate Buy" and an average target price of $74.88.

PROCEPT BioRobotics Trading Down 8.9%

PROCEPT BioRobotics stock traded down $4.08 during trading hours on Thursday, reaching $41.61. 2,667,356 shares of the company's stock traded hands, compared to its average volume of 991,404. The firm's 50 day moving average is $57.69 and its 200-day moving average is $59.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.75 and a current ratio of 8.95. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -24.41 and a beta of 1.05. PROCEPT BioRobotics Corporation has a fifty-two week low of $37.12 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.06. The company had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative net margin of 36.20% and a negative return on equity of 28.09%. The business's quarterly revenue was up 48.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.50) earnings per share. On average, analysts predict that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other 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 in the company, valued at approximately $883,180.87. This trade represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 100,000 shares of company stock worth $6,271,250. 6.60% of the stock is currently owned by insiders.

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).