Wasatch Advisors LP Takes Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Wasatch Advisors LP acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,382 shares of the company's stock, valued at approximately $3,413,000. Wasatch Advisors LP owned 0.08% of PROCEPT BioRobotics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRCT. Lord Abbett & CO. LLC increased its position in shares of PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock worth $59,974,000 after purchasing an additional 233,430 shares during the period. Perpetual Ltd bought a new position in PROCEPT BioRobotics in the 4th quarter valued at about $66,972,000. Oak Ridge Investments LLC raised its position in shares of PROCEPT BioRobotics by 24.0% in the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company's stock valued at $2,420,000 after buying an additional 5,817 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of PROCEPT BioRobotics by 295.8% during 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 during the period. Finally, Chicago Capital LLC increased its stake in PROCEPT BioRobotics by 44.5% in the fourth quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock valued at $30,564,000 after acquiring an additional 116,931 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Truist Financial lowered their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $91.43.

PROCEPT BioRobotics Trading Down 1.8 %

Shares of PROCEPT BioRobotics stock traded down $0.98 on Tuesday, hitting $52.46. The stock had a trading volume of 187,937 shares, compared to its average volume of 783,932. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The firm has a market capitalization of $2.88 billion, a P/E ratio of -26.90 and a beta of 1.09. The stock has a 50 day moving average of $58.90 and a 200 day moving average of $74.53.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. Sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In other 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 value of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,455 shares of company stock valued at $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).