Voloridge Investment Management LLC Grows Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Voloridge Investment Management LLC increased its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 60.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 454,374 shares of the company's stock after purchasing an additional 171,029 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.87% of PROCEPT BioRobotics worth $36,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Enclave Advisors LLC grew its position in PROCEPT BioRobotics by 5.3% in the 4th quarter. Enclave Advisors LLC now owns 29,568 shares of the company's stock worth $2,381,000 after purchasing an additional 1,499 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of PROCEPT BioRobotics by 295.8% during the 4th 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 last quarter. Raleigh Capital Management Inc. bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth $32,000. KBC Group NV lifted its holdings in shares of PROCEPT BioRobotics by 46.0% during the 4th quarter. KBC Group NV now owns 2,236 shares of the company's stock worth $180,000 after acquiring an additional 705 shares during the last quarter. Finally, Chicago Capital LLC lifted its holdings in shares of PROCEPT BioRobotics by 44.5% during the 4th 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 last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT traded up $0.92 during trading hours on Tuesday, hitting $58.30. 197,264 shares of the company were exchanged, compared to its average volume of 816,122. The company's 50 day moving average price is $55.27 and its 200-day moving average price is $70.16. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -29.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a 52-week low of $47.04 and a 52-week high of $103.81.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on PRCT shares. Bank of America decreased their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of "Moderate Buy" and an average target price of $90.00.

Insider Activity

In related news, CFO Kevin Waters sold 733 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares in the company, valued at $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 sold 6,455 shares of company stock worth $368,322 over the last three months. Insiders own 6.60% 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).