Capital Fund Management S.A. Purchases 14,023 Shares of PROCEPT BioRobotics Corporation $PRCT

Key Points

• Capital Fund Management S.A. has increased its stake in PROCEPT BioRobotics Corporation by 105.1%, holding 27,371 shares valued at approximately $1,595,000 after acquiring an additional 14,023 shares in the first quarter.
• Insider trading activity revealed that Director Antal Rohit Desai sold 25,000 shares of stock, significantly reducing their stake by 63.51%, while insiders collectively sold 100,000 shares worth about $6.27 million in the last three months.
• PROCEPT BioRobotics reported quarterly revenue of $79.18 million, exceeding analysts' expectations and reflecting a 48.3% increase compared to the previous year, despite a reported loss of ($0.35) EPS.

Capital Fund Management S.A. increased its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 105.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 27,371 shares of the company's stock after purchasing an additional 14,023 shares during the period. Capital Fund Management S.A.'s holdings in PROCEPT BioRobotics were worth $1,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PRCT. Raymond James Financial Inc. acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth $1,647,000. Mariner LLC boosted its position in PROCEPT BioRobotics by 40.6% during the 4th quarter. Mariner LLC now owns 8,406 shares of the company's stock worth $677,000 after acquiring an additional 2,429 shares during the period. MetLife Investment Management LLC boosted its position in PROCEPT BioRobotics by 8.7% during the 4th quarter. MetLife Investment Management LLC now owns 26,680 shares of the company's stock worth $2,148,000 after acquiring an additional 2,144 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth approximately $1,030,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of PROCEPT BioRobotics by 187.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,776 shares of the company's stock worth $224,000 after purchasing an additional 1,809 shares during the period. Institutional investors and hedge funds own 89.46% of the company's stock.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was 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 of the company's stock, valued at $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 100,000 shares of company stock worth $6,271,250. 6.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock traded down $0.46 on Thursday, reaching $40.34. The stock had a trading volume of 688,365 shares, compared to its average volume of 1,334,868. The stock has a market cap of $2.24 billion, a P/E ratio of -26.03 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 fifty-two week low of $37.12 and a fifty-two week high of $103.81. The business's 50-day moving average price is $51.04 and its two-hundred day moving average price is $55.86.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data 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. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. During the same quarter in the previous year, the firm earned ($0.50) EPS. The firm's revenue was up 48.3% compared to the same quarter last year. On average, sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

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).