Arcadia Investment Management Corp MI Takes Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Arcadia Investment Management Corp MI acquired a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the fourth quarter, Holdings Channel reports. The firm acquired 790 shares of the company’s stock, valued at approximately $64,000.

Other large investors also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new stake in PROCEPT BioRobotics in the fourth quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB bought a new stake in PROCEPT BioRobotics during the third quarter valued at approximately $64,000. Canton Hathaway LLC bought a new stake in PROCEPT BioRobotics during the third quarter valued at approximately $66,000. Finally, Nisa Investment Advisors LLC grew its stake in PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after buying an additional 713 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Down 4.8 %

NASDAQ PRCT opened at $62.25 on Friday. The firm has a market cap of $3.25 billion, a PE ratio of -31.92 and a beta of 1.03. PROCEPT BioRobotics Co. has a 1-year low of $45.20 and a 1-year high of $103.81. The stock has a 50-day moving average of $76.53 and a 200-day moving average of $79.72. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

Insiders Place Their Bets

In related news, EVP Alaleh Nouri sold 28,092 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was 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 directly owns 52,472 shares of the company’s stock, valued at $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 $17,529,668.55. The trade was a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,935 shares of company stock valued at $7,882,089 in the last ninety days. Company insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

PRCT has been the subject of a number of research analyst reports. Morgan Stanley began coverage on shares of PROCEPT BioRobotics in a report on Monday, December 2nd. They set an “overweight” rating and a $105.00 price objective for the company. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price target for the company. Truist Financial reiterated 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. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and six have issued 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.

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).