Summit Partners Public Asset Management LLC Buys 8,721 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Summit Partners Public Asset Management LLC boosted its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,767 shares of the company's stock after acquiring an additional 8,721 shares during the quarter. PROCEPT BioRobotics accounts for 0.9% of Summit Partners Public Asset Management LLC's portfolio, making the stock its 17th largest position. Summit Partners Public Asset Management LLC owned about 1.06% of PROCEPT BioRobotics worth $44,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of PROCEPT BioRobotics by 54.0% during the 4th quarter. ProShare Advisors LLC now owns 12,722 shares of the company's stock worth $1,024,000 after purchasing an additional 4,459 shares in the last quarter. Man Group plc grew its stake in PROCEPT BioRobotics by 303.4% during the fourth quarter. Man Group plc now owns 255,752 shares of the company's stock worth $20,593,000 after buying an additional 192,352 shares during the last quarter. Nicholas Investment Partners LP grew its stake in PROCEPT BioRobotics by 4.2% during the fourth quarter. Nicholas Investment Partners LP now owns 68,137 shares of the company's stock worth $5,486,000 after buying an additional 2,777 shares during the last quarter. Occudo Quantitative Strategies LP increased its holdings in shares of PROCEPT BioRobotics by 145.7% during the fourth quarter. Occudo Quantitative Strategies LP now owns 8,671 shares of the company's stock worth $698,000 after buying an additional 5,142 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of PROCEPT BioRobotics by 240.2% in the fourth quarter. Millennium Management LLC now owns 287,847 shares of the company's stock valued at $23,177,000 after acquiring an additional 203,241 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRCT. Bank of America decreased their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Truist Financial reduced their price objective on 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 lowered their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $90.00.

PROCEPT BioRobotics Trading Up 1.7%

NASDAQ:PRCT traded up $0.98 during trading hours on Thursday, hitting $57.62. 352,920 shares of the stock were exchanged, compared to its average volume of 816,959. The company has a market capitalization of $3.19 billion, a P/E ratio of -29.54 and a beta of 1.10. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The company's 50 day moving average is $55.30 and its two-hundred day moving average is $71.35. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm's quarterly revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) earnings per share. On average, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction 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 completion of the sale, the chief executive officer now owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. The trade was a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief financial officer now owns 107,991 shares of the company's stock, valued at $6,161,966.46. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,455 shares of company stock worth $368,322. Company insiders own 17.40% of the company's stock.

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).