PROCEPT BioRobotics Corporation $PRCT Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP reduced its holdings in PROCEPT BioRobotics Corporation by 47.9% in the first quarter, resulting in ownership of 20,346 shares worth approximately $1.19 million.
• Several institutional investors, including Baillie Gifford & Co. and Westfield Capital Management, have increased their stakes in PROCEPT BioRobotics, reflecting a growing confidence in the company's potential.
• PROCEPT BioRobotics reported a 48.3% increase in quarterly revenue year-over-year, achieving $79.18 million, despite a negative earnings per share of ($0.35).

Quantbot Technologies LP trimmed its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 47.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,346 shares of the company's stock after selling 18,673 shares during the period. Quantbot Technologies LP's holdings in PROCEPT BioRobotics were worth $1,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Ensign Peak Advisors Inc raised its position in shares of PROCEPT BioRobotics by 1.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock valued at $1,141,000 after buying an additional 150 shares during the last quarter. Nisa Investment Advisors LLC raised its position 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 during the last quarter. CWM LLC raised its position 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 during the last quarter. Arizona State Retirement System raised its position in shares of PROCEPT BioRobotics by 3.2% in the first quarter. Arizona State Retirement System now owns 14,737 shares of the company's stock valued at $859,000 after buying an additional 452 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics in the first quarter valued at about $30,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Down 1.5%

Shares of PRCT traded down $0.62 during trading on Thursday, reaching $40.18. 386,992 shares of the company traded hands, compared to its average volume of 1,014,926. PROCEPT BioRobotics Corporation has a twelve month low of $37.12 and a twelve month high of $103.81. The stock has a market cap of $2.24 billion, a PE ratio of -25.98 and a beta of 1.05. The stock has a 50-day simple moving average of $51.42 and a 200-day simple moving average of $56.06. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.06. The firm had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The business's quarterly revenue was up 48.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.50) earnings per share. On average, analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction 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. The trade was 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. Insiders own 6.60% of the company's stock.

Analyst Ratings Changes

PRCT has been the subject of a number of recent research reports. Stephens initiated coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 target price for the company. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley cut their price objective on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Piper Sandler cut their price objective on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, Oppenheimer started coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They set a "market perform" rating for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.88.

PROCEPT BioRobotics Company 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).