Frontier Capital Management Co. LLC Makes New $18.15 Million Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Frontier Capital Management Co. LLC purchased a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 225,352 shares of the company's stock, valued at approximately $18,145,000. Frontier Capital Management Co. LLC owned about 0.43% of PROCEPT BioRobotics at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Perpetual Ltd bought a new position in PROCEPT BioRobotics in the 4th quarter worth about $66,972,000. Oak Ridge Investments LLC grew its stake in PROCEPT BioRobotics by 24.0% in the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company's stock worth $2,420,000 after acquiring an additional 5,817 shares in the last quarter. SG Americas Securities LLC grew its stake in PROCEPT BioRobotics by 295.8% in the 4th quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock worth $531,000 after acquiring an additional 4,931 shares in the last quarter. Chicago Capital LLC grew its stake in PROCEPT BioRobotics by 44.5% in the 4th quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock worth $30,564,000 after acquiring an additional 116,931 shares in the last quarter. Finally, Matisse Capital grew its stake in PROCEPT BioRobotics by 112.9% in the 4th quarter. Matisse Capital now owns 22,285 shares of the company's stock worth $1,794,000 after acquiring an additional 11,817 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PRCT has been the topic of a number of research analyst reports. Bank of America dropped their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, PROCEPT BioRobotics presently has an average rating of "Moderate Buy" and a consensus price target of $90.00.

Insider Activity at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 107,991 shares of the company's stock, valued at $6,161,966.46. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at $9,875,374.20. The trade was a 3.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock valued at $368,322 over the last 90 days. Insiders own 6.60% of the company's stock.

PROCEPT BioRobotics Stock Down 3.1%

Shares of PRCT traded down $1.69 during mid-day trading on Friday, hitting $53.12. The company's stock had a trading volume of 470,506 shares, compared to its average volume of 805,692. The company's 50-day moving average is $55.66 and its 200-day moving average is $72.90. PROCEPT BioRobotics Co. has a 52-week low of $47.04 and a 52-week high of $103.81. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -27.24 and a beta of 1.10. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. During the same quarter in the prior year, the company earned ($0.51) EPS. The company's revenue was up 55.5% compared to the same quarter last year. On average, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

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).