Sandler Capital Management Has $2.06 Million Stock Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Sandler Capital Management has reduced its stake in PROCEPT BioRobotics Corporation by 32.4%, now owning 35,283 shares valued at approximately $2.06 million.
• PROCEPT BioRobotics reported a 48.3% increase in revenue for the quarter, totaling $79.18 million and exceeding analyst expectations.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for PROCEPT BioRobotics, with a current average price target of $73.22.

Sandler Capital Management reduced its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 32.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,283 shares of the company's stock after selling 16,940 shares during the quarter. Sandler Capital Management owned 0.06% of PROCEPT BioRobotics worth $2,056,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PRCT. Stifel Financial Corp lifted its position in PROCEPT BioRobotics by 83.0% in the 4th quarter. Stifel Financial Corp now owns 10,307 shares of the company's stock valued at $830,000 after acquiring an additional 4,675 shares in the last quarter. Northern Trust Corp lifted its position in PROCEPT BioRobotics by 15.6% in the 4th quarter. Northern Trust Corp now owns 446,468 shares of the company's stock valued at $35,950,000 after acquiring an additional 60,098 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in PROCEPT BioRobotics in the 4th quarter valued at $11,500,000. Bank of America Corp DE lifted its position in PROCEPT BioRobotics by 6.3% in the 4th quarter. Bank of America Corp DE now owns 623,408 shares of the company's stock valued at $50,197,000 after acquiring an additional 36,944 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in PROCEPT BioRobotics by 39.4% in the 4th quarter. Baird Financial Group Inc. now owns 54,237 shares of the company's stock valued at $4,367,000 after acquiring an additional 15,327 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Stephens assumed coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price target on the stock. Morgan Stanley cut their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Oppenheimer raised shares of PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a research report on Tuesday, September 2nd. Finally, Wells Fargo & Company cut their price target on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $73.22.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction dated 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 transaction, the director directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock traded down $2.02 during trading on Wednesday, hitting $37.50. 1,580,010 shares of the stock were exchanged, compared to its average volume of 881,272. The company has a fifty day moving average price of $47.61 and a 200-day moving average price of $54.16. PROCEPT BioRobotics Corporation has a 1-year low of $37.12 and a 1-year high of $103.81. 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 released 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. The company had revenue of $79.18 million for the quarter, compared to analyst estimates of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. PROCEPT BioRobotics's revenue for the quarter was up 48.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.50) EPS. Analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share 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).