Thurston Springer Miller Herd & Titak Inc. Takes $453,000 Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,625 shares of the company’s stock, valued at approximately $453,000.

A number of other hedge funds have also recently added to or reduced their stakes in PRCT. Essex Investment Management Co. LLC lifted its holdings in shares of PROCEPT BioRobotics by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company’s stock worth $6,489,000 after acquiring an additional 228 shares during the period. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics during the third quarter worth approximately $27,000. KBC Group NV raised its stake in PROCEPT BioRobotics by 32.6% during the third quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $123,000 after purchasing an additional 376 shares during the period. Blue Trust Inc. boosted its holdings in shares of PROCEPT BioRobotics by 11.7% in the 3rd quarter. Blue Trust Inc. now owns 4,441 shares of the company’s stock valued at $356,000 after purchasing an additional 466 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of PROCEPT BioRobotics during the 2nd quarter valued at $36,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Down 4.5 %

Shares of NASDAQ:PRCT opened at $78.31 on Thursday. The company has a 50 day moving average of $89.33 and a two-hundred day moving average of $78.78. PROCEPT BioRobotics Co. has a 52-week low of $44.02 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. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -40.16 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm’s quarterly revenue was up 66.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) EPS. As a group, analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 28,092 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the transaction, the chief executive officer now owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 52.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 462,816 shares of company stock valued at $43,008,799. Insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price on the stock. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Wells Fargo & Company restated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Morgan Stanley started coverage on shares of PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 price objective for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.86.

About PROCEPT BioRobotics

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).