PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Acquired by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC boosted its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,970 shares of the company’s stock after purchasing an additional 13,260 shares during the period. Biondo Investment Advisors LLC owned approximately 0.22% of PROCEPT BioRobotics worth $9,338,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter valued at about $32,000. Signaturefd LLC grew its stake in PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares in the last quarter. IFP Advisors Inc purchased a new stake in PROCEPT BioRobotics during the 4th quarter worth approximately $58,000. Wilmington Savings Fund Society FSB acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at approximately $64,000. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $64,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Down 2.8 %

NASDAQ PRCT opened at $60.05 on Friday. The firm has a market capitalization of $3.29 billion, a PE ratio of -30.79 and a beta of 1.05. PROCEPT BioRobotics Co. has a one year low of $45.56 and a one year high of $103.81. The company has a 50-day simple moving average of $65.34 and a 200-day simple moving average of $77.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. On average, equities analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock worth $368,322 in the last 90 days. Corporate insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PRCT. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial restated a “buy” rating and issued a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Finally, Morgan Stanley decreased their price target 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 research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.29.

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).