Two Sigma Advisers LP Increases Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Two Sigma Advisers LP raised its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 237.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,000 shares of the company's stock after buying an additional 63,300 shares during the quarter. Two Sigma Advisers LP owned about 0.17% of PROCEPT BioRobotics worth $7,247,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Raleigh Capital Management Inc. bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $32,000. Thematics Asset Management bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $46,000. Signaturefd LLC grew its holdings in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after purchasing an additional 145 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $58,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $64,000. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Stock Down 2.6%

Shares of PROCEPT BioRobotics stock traded down $1.54 during trading on Thursday, reaching $57.10. 276,282 shares of the company traded hands, compared to its average volume of 817,378. 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 1-year low of $47.04 and a 1-year high of $103.81. The company has a 50 day moving average price of $55.29 and a 200-day moving average price of $70.00. The firm has a market capitalization of $3.16 billion, a PE ratio of -29.29 and a beta of 1.10.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. During the same quarter in the previous year, the company earned ($0.51) EPS. PROCEPT BioRobotics's quarterly revenue was up 55.5% compared to the same quarter last year. As a group, equities research analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. The trade was a 3.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock worth $368,322 in the last quarter. Company insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley decreased their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Truist Financial reduced their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Bank of America reduced their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

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).