Legato Capital Management LLC Has $2.51 Million Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Legato Capital Management LLC cut its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 32.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,167 shares of the company’s stock after selling 14,663 shares during the quarter. Legato Capital Management LLC owned 0.06% of PROCEPT BioRobotics worth $2,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRCT. Lord Abbett & CO. LLC increased its stake in PROCEPT BioRobotics by 45.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after acquiring an additional 233,430 shares during the period. Perpetual Ltd acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth $66,972,000. Penserra Capital Management LLC bought a new position in shares of PROCEPT BioRobotics in the third quarter worth $2,308,000. Oak Ridge Investments LLC raised its stake in PROCEPT BioRobotics by 24.0% in the fourth quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock valued at $2,420,000 after purchasing an additional 5,817 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in PROCEPT BioRobotics by 295.8% during the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company’s stock worth $531,000 after purchasing an additional 4,931 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on PRCT. Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Finally, Morgan Stanley started coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 target price for the company. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $97.86.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $66.00 on Wednesday. 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 Co. has a 12-month low of $45.20 and a 12-month high of $103.81. The business has a 50-day simple moving average of $80.71 and a two-hundred day simple moving average of $79.65.

Insider Activity

In related news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total value of $2,584,668.60. Following the transaction, the chief executive officer now directly owns 179,185 shares of the company’s stock, valued at approximately $17,529,668.55. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,355 shares of company stock valued at $10,327,788 over the last quarter. 17.40% of the stock is owned by company insiders.

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).