278,466 Shares in PROCEPT BioRobotics Co. (NASDAQ:PRCT) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 278,466 shares of the company’s stock, valued at approximately $22,422,000. Renaissance Technologies LLC owned about 0.53% of PROCEPT BioRobotics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. bought a new position in PROCEPT BioRobotics in the fourth quarter valued at about $32,000. Signaturefd LLC lifted its position in PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares during the period. IFP Advisors Inc bought a new position in shares of PROCEPT BioRobotics in the 4th quarter valued at about $58,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $64,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth approximately $64,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Performance

PRCT stock opened at $52.07 on Friday. PROCEPT BioRobotics Co. has a 1-year low of $47.04 and a 1-year high of $103.81. The business’s 50-day moving average price is $60.84 and its two-hundred day moving average price is $75.53. The firm has a market cap of $2.85 billion, a PE ratio of -26.70 and a beta of 1.09. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. As a group, research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock worth $368,322 over the last quarter. 17.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on PRCT shares. Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Truist Financial reduced their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.43.

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).