Next Century Growth Investors LLC Has $7.40 Million Stock Holdings in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Next Century Growth Investors LLC reduced its holdings in PROCEPT BioRobotics Corporation by 55.7%, now owning $7.40 million worth of stock.
• Wells Fargo and Piper Sandler both lowered their price targets for PROCEPT BioRobotics, indicating a revised outlook on the stock which currently has a consensus rating of "Moderate Buy."
• Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock, which reflects a significant change in insider ownership in recent months.

Next Century Growth Investors LLC trimmed its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 55.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,073 shares of the company's stock after selling 159,864 shares during the period. Next Century Growth Investors LLC owned about 0.23% of PROCEPT BioRobotics worth $7,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PRCT. ANTIPODES PARTNERS Ltd bought a new position in shares of PROCEPT BioRobotics in the first quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PROCEPT BioRobotics in the first quarter valued at $40,000. CWM LLC lifted its stake in shares of 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 buying an additional 358 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of 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 buying an additional 270 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake 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 valued at $193,000 after buying an additional 2,591 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRCT. Wells Fargo & Company dropped their price objective on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Piper Sandler dropped their price target on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Stephens initiated coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price target on the stock. Oppenheimer initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They set a "market perform" rating on the stock. Finally, Morgan Stanley dropped their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.88.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $40.80 on Thursday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -26.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21. PROCEPT BioRobotics Corporation has a 52 week low of $37.12 and a 52 week high of $103.81. The firm's 50-day simple moving average is $51.42 and its two-hundred day simple moving average is $56.06.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The company's revenue was up 48.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.50) earnings per share. As a group, equities analysts forecast 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 PROCEPT BioRobotics stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the transaction, the director owned 14,363 shares in the company, 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 the SEC website. Insiders have sold a total of 100,000 shares of company stock valued at $6,271,250 in the last three months. 6.60% of the stock is owned by company insiders.

PROCEPT BioRobotics 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).

Want to see what other hedge funds are holding PRCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.