820 Shares in PROCEPT BioRobotics Co. (NASDAQ:PRCT) Bought by Canton Hathaway LLC

Canton Hathaway LLC bought a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 820 shares of the company’s stock, valued at approximately $66,000.

A number of other hedge funds have also made changes to their positions in PRCT. Westfield Capital Management Co. LP purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth about $72,563,000. Penserra Capital Management LLC acquired a new position in PROCEPT BioRobotics during the third quarter worth about $2,308,000. Algert Global LLC lifted its holdings in shares of PROCEPT BioRobotics by 41.4% in the third quarter. Algert Global LLC now owns 38,217 shares of the company’s stock valued at $3,062,000 after purchasing an additional 11,190 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PROCEPT BioRobotics by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company’s stock valued at $32,254,000 after purchasing an additional 46,665 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $979,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $95.89 on Monday. The company has a market cap of $5.00 billion, a P/E ratio of -48.00 and a beta of 1.01. The business has a fifty day simple moving average of $82.41 and a 200-day simple moving average of $72.53. PROCEPT BioRobotics Co. has a 52 week low of $33.45 and a 52 week high of $103.81. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. The company had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm’s revenue was up 66.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.51) EPS. Equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 26,420 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total value of $2,445,699.40. Following the transaction, the chief executive officer now owns 205,605 shares in the company, valued at approximately $19,032,854.85. This trade represents a 11.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antal Rohit Desai sold 34,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $95.39, for a total value of $3,243,260.00. Following the sale, the director now owns 164,363 shares of the company’s stock, valued at $15,678,586.57. This represents a 17.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 561,773 shares of company stock worth $49,073,125. 17.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PRCT shares. Truist Financial restated a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective on the stock. TD Cowen increased their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America raised their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

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).