PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 28.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,350 shares of the company’s stock after purchasing an additional 2,758 shares during the period. Advisors Asset Management Inc.’s holdings in PROCEPT BioRobotics were worth $989,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in PROCEPT BioRobotics during the third quarter worth $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of PROCEPT BioRobotics in the second quarter valued at $36,000. Quest Partners LLC raised its stake in shares of PROCEPT BioRobotics by 2,492.3% during 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. Nisa Investment Advisors LLC boosted its position in shares of 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. Finally, Sentry Investment Management LLC acquired a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $120,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PRCT shares. TD Cowen lifted their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Jefferies Financial Group started 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. Piper Sandler reissued an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Activity

In related news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction on Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $7,928,880.96. This trade represents a 20.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 561,773 shares of company stock worth $49,073,125 over the last 90 days. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $99.27 on Wednesday. The company has a market cap of $5.18 billion, a P/E ratio of -50.91 and a beta of 1.01. The firm’s 50 day moving average is $82.73 and its two-hundred day moving average is $72.86. PROCEPT BioRobotics Co. has a fifty-two week low of $33.45 and a fifty-two 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.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 66.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) earnings per share. Analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

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).