GAMMA Investing LLC raised its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 7,021.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,409 shares of the company's stock after purchasing an additional 6,319 shares during the period. GAMMA Investing LLC's holdings in PROCEPT BioRobotics were worth $373,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Thematics Asset Management purchased a new position in PROCEPT BioRobotics during the fourth quarter worth about $46,000. Signaturefd LLC increased its position in shares of PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after purchasing an additional 145 shares during the last quarter. IFP Advisors Inc purchased a new stake in PROCEPT BioRobotics in the fourth quarter valued at approximately $58,000. Arcadia Investment Management Corp MI bought a new stake in PROCEPT BioRobotics during the fourth quarter valued at approximately $64,000. Finally, WINTON GROUP Ltd purchased a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $207,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Truist Financial cut their price objective on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Bank of America cut their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $90.00.
Check Out Our Latest Stock Analysis on PRCT
PROCEPT BioRobotics Trading Up 0.3%
Shares of PRCT stock traded up $0.19 during mid-day trading on Tuesday, reaching $58.93. The stock had a trading volume of 676,067 shares, compared to its average volume of 837,357. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13. The stock's 50-day moving average price is $57.08 and its two-hundred day moving average price is $65.37. The firm has a market capitalization of $3.26 billion, a PE ratio of -34.66 and a beta of 1.10. PROCEPT BioRobotics Corporation has a 52-week low of $47.04 and a 52-week high of $103.81.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The firm's revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) earnings per share. Equities analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $60.66, for a total value of $1,516,500.00. Following the sale, the director now directly owns 139,363 shares of the company's stock, valued at $8,453,759.58. This represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 100,000 shares of company stock valued at $6,271,250. Corporate insiders own 17.40% of the company's stock.
PROCEPT BioRobotics Company Profile
(
Free Report)
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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