Los Angeles Capital Management LLC Invests $367,000 in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Los Angeles Capital Management LLC acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,581 shares of the company’s stock, valued at approximately $367,000.

Several other large investors also recently modified their holdings of the stock. Values First Advisors Inc. bought a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth $27,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of PROCEPT BioRobotics in the 2nd quarter worth $36,000. Quest Partners LLC lifted its holdings in shares of 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 purchasing an additional 648 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings 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 purchasing an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth $120,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Up 3.5 %

Shares of PROCEPT BioRobotics stock opened at $88.94 on Monday. PROCEPT BioRobotics Co. has a 1 year low of $31.57 and a 1 year high of $103.81. The firm has a market cap of $4.64 billion, a PE ratio of -45.61 and a beta of 1.01. The stock has a fifty day moving average price of $80.97 and a 200-day moving average price of $71.53. 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 (NASDAQ:PRCT) last announced its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) 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 last year, the firm posted ($0.51) EPS. The business’s revenue was up 66.4% compared to the same quarter last year. Equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PRCT shares. Bank of America increased their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research note on Thursday. They set a “hold” rating and a $95.00 price objective on the stock. Piper Sandler restated an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Truist Financial restated 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. Finally, Wells Fargo & Company raised their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Buying and Selling

In related news, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. This trade represents a 4.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 535,353 shares of company stock valued at $46,627,426. 17.40% of the stock is owned by insiders.

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).