PROCEPT BioRobotics Co. (NASDAQ:PRCT) Holdings Increased by LMR Partners LLP

LMR Partners LLP lifted its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 63.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,361 shares of the company’s stock after acquiring an additional 9,072 shares during the quarter. LMR Partners LLP’s holdings in PROCEPT BioRobotics were worth $1,872,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. M&G Plc purchased a new position in shares of PROCEPT BioRobotics in the second quarter worth approximately $8,507,000. Federated Hermes Inc. lifted its stake in shares of PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after buying an additional 162,785 shares during the last quarter. Nicholas Investment Partners LP acquired a new stake in shares of PROCEPT BioRobotics in the second quarter worth $4,657,000. Vanguard Group Inc. lifted its stake in shares of PROCEPT BioRobotics by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after buying an additional 62,164 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in PROCEPT BioRobotics by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,250 shares of the company’s stock worth $358,000 after acquiring an additional 570 shares during the period. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price target on the stock. TD Cowen upped their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Activity at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at $6,964,077.12. This represents a 20.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $96.60, for a total value of $3,187,800.00. Following the completion of the sale, the director now owns 231,363 shares in the company, valued at $22,349,665.80. The trade was a 12.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 535,353 shares of company stock valued at $46,627,426. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock opened at $90.98 on Tuesday. The company’s 50 day simple moving average is $80.97 and its 200 day simple moving average is $71.53. PROCEPT BioRobotics Co. has a fifty-two week low of $31.57 and a fifty-two week high of $103.81. 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 (NASDAQ:PRCT) last announced its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same period last year, the company posted ($0.51) EPS. The business’s quarterly revenue was up 66.4% on a year-over-year basis. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 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).