PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Purchased by RiverPark Advisors LLC

RiverPark Advisors LLC increased its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 44.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,192 shares of the company’s stock after purchasing an additional 981 shares during the quarter. RiverPark Advisors LLC’s holdings in PROCEPT BioRobotics were worth $256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Essex Investment Management Co. LLC grew its stake in 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 purchasing an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics during the 3rd quarter worth $27,000. Arizona State Retirement System boosted its position in shares of PROCEPT BioRobotics by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock worth $784,000 after acquiring an additional 350 shares in the last quarter. KBC Group NV boosted its position in shares of PROCEPT BioRobotics by 32.6% during the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $123,000 after acquiring an additional 376 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after acquiring an additional 408 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. This trade represents a 20.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Reza Zadno sold 288,461 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 535,353 shares of company stock valued at $46,627,426 in the last ninety days. Insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRCT. Truist Financial reaffirmed 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. TD Cowen upped their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Bank of America upped their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday. They issued a “hold” rating and a $95.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.50.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $88.94 on Friday. 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. The stock has a 50-day simple moving average of $80.97 and a 200-day simple moving average of $71.45.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.51) EPS. As a group, research analysts forecast that PROCEPT BioRobotics Co. will post -1.74 EPS for the current 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).