Two Sigma Investments LP Raises Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Two Sigma Investments LP grew its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 91.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,716 shares of the company's stock after purchasing an additional 168,505 shares during the quarter. Two Sigma Investments LP owned about 0.68% of PROCEPT BioRobotics worth $28,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new position in shares of PROCEPT BioRobotics in the 4th quarter valued at about $32,000. Thematics Asset Management bought a new stake in PROCEPT BioRobotics in the 4th quarter valued at about $46,000. Signaturefd LLC increased its position in PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after buying an additional 145 shares in the last quarter. IFP Advisors Inc bought a new stake in PROCEPT BioRobotics in the 4th quarter valued at about $58,000. Finally, Arcadia Investment Management Corp MI bought a new stake in PROCEPT BioRobotics in the 4th quarter valued at about $64,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on PRCT. Truist Financial decreased their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Morgan Stanley decreased their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Bank of America decreased their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.00.

PROCEPT BioRobotics Stock Down 0.6%

PRCT traded down $0.34 during midday trading on Friday, reaching $57.38. 557,872 shares of the company were exchanged, compared to its average volume of 818,516. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The company's fifty day moving average price is $55.28 and its 200 day moving average price is $70.63. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -29.43 and a beta of 1.10. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81.

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

Insiders Place Their Bets

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

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).