Millennium Management LLC Acquires 203,241 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Millennium Management LLC grew its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 240.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 287,847 shares of the company's stock after acquiring an additional 203,241 shares during the period. Millennium Management LLC owned about 0.55% of PROCEPT BioRobotics worth $23,177,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Perpetual Ltd bought a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at about $66,972,000. SG Americas Securities LLC raised its position in PROCEPT BioRobotics by 295.8% in the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock worth $531,000 after acquiring an additional 4,931 shares during the period. Chicago Capital LLC raised its position in PROCEPT BioRobotics by 44.5% in the fourth quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock worth $30,564,000 after acquiring an additional 116,931 shares during the period. Matisse Capital raised its position in PROCEPT BioRobotics by 112.9% in the fourth quarter. Matisse Capital now owns 22,285 shares of the company's stock worth $1,794,000 after acquiring an additional 11,817 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in PROCEPT BioRobotics by 218.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company's stock worth $33,350,000 after acquiring an additional 275,071 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PRCT shares. Morgan Stanley reduced their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Truist Financial reduced 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 note on Friday, April 11th. Finally, 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 note on Friday, April 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

Insider Activity

In related news, CFO Kevin Waters sold 733 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at $6,161,966.46. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the sale, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This trade represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock worth $368,322 over the last quarter. Insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $59.18 on Wednesday. The company has a 50 day moving average price of $55.32 and a 200-day moving average price of $71.46. PROCEPT BioRobotics Co. has a 52 week low of $47.04 and a 52 week high of $103.81. The firm has a market capitalization of $3.27 billion, a PE ratio of -30.35 and a beta of 1.10. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm's revenue was up 55.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) earnings per share. As a group, equities research analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

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).

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