Y Intercept Hong Kong Ltd Takes Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Y Intercept Hong Kong Ltd acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,489 shares of the company’s stock, valued at approximately $1,081,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRCT. Values First Advisors Inc. purchased a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of PROCEPT BioRobotics during the 2nd quarter worth $36,000. Quest Partners LLC boosted its stake in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of PROCEPT BioRobotics in the third quarter worth approximately $66,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 178.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after buying an additional 713 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Down 0.9 %

NASDAQ PRCT opened at $89.81 on Friday. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -46.06 and a beta of 1.00. 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 Co. has a 12 month low of $39.22 and a 12 month high of $103.81. The company’s fifty day moving average price is $86.71 and its two-hundred day moving average price is $75.31.

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

Insiders Place Their Bets

In related news, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was 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 in the company, valued at $23,518,495. This represents a 52.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. This trade represents a 20.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 512,816 shares of company stock valued at $46,883,299. Company insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PRCT. Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. Morgan Stanley assumed coverage on shares of PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price objective for the company. Bank of America boosted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.86.

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).