Generali Investments Towarzystwo Funduszy Inwestycyjnych Takes Position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

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 purchased a new stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,000 shares of the company's stock, valued at approximately $932,000.

Other hedge funds also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of PROCEPT BioRobotics during the 1st quarter valued at $30,000. Thematics Asset Management bought a new position in PROCEPT BioRobotics during the 4th quarter worth approximately $46,000. CWM LLC grew its holdings in PROCEPT BioRobotics by 69.5% during 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 period. Nisa Investment Advisors LLC grew 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 acquiring an additional 270 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of PROCEPT BioRobotics by 358.9% in the first quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock worth $193,000 after acquiring an additional 2,591 shares in the last quarter. Institutional investors own 89.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PRCT shares. Stephens began coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price objective for the company. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Truist Financial lowered their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wall Street Zen lowered shares of PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Oppenheimer started coverage on shares of PROCEPT BioRobotics in a report on Monday, July 7th. They set a "market perform" rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $84.13.

PROCEPT BioRobotics Stock Down 0.2%

NASDAQ:PRCT traded down $0.10 during trading hours on Tuesday, reaching $49.50. The company had a trading volume of 281,559 shares, compared to its average volume of 971,180. The company has a quick ratio of 7.75, a current ratio of 8.95 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -29.12 and a beta of 1.05. The business's 50-day simple moving average is $58.16 and its two-hundred day simple moving average is $59.54. PROCEPT BioRobotics Corporation has a twelve month low of $47.04 and a twelve month high of $103.81.

Insider Buying and Selling

In related 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 transaction of $1,537,250.00. Following the transaction, the director directly owned 14,363 shares of the company's stock, valued at $883,180.87. This trade represents a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 100,000 shares of company stock valued at $6,271,250 in the last ninety days. Company insiders own 6.60% of the company's stock.

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).