PROCEPT BioRobotics Co. (NASDAQ:PRCT) Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 15.9% during the third quarter, HoldingsChannel.com reports. The fund owned 193,185 shares of the company’s stock after selling 36,410 shares during the period. Victory Capital Management Inc.’s holdings in PROCEPT BioRobotics were worth $15,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics during the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in PROCEPT BioRobotics in the second quarter worth approximately $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 purchasing an additional 648 shares during the period. Nisa Investment Advisors LLC boosted 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 purchasing an additional 713 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in PROCEPT BioRobotics in the 3rd quarter worth approximately $120,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at $6,964,077.12. This represents a 20.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai sold 34,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the sale, the director now directly owns 164,363 shares in the company, valued at approximately $15,678,586.57. This represents a 17.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 535,353 shares of company stock valued at $46,627,426. 17.40% of the stock is owned by insiders.

PROCEPT BioRobotics Price Performance

NASDAQ:PRCT opened at $93.57 on Wednesday. The stock has a market cap of $4.88 billion, a P/E ratio of -47.98 and a beta of 1.01. PROCEPT BioRobotics Co. has a one year low of $31.57 and a one year high of $103.81. The company has a fifty day moving average price of $81.59 and a 200 day moving average price of $71.94. 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 quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same quarter in the prior year, the company posted ($0.51) EPS. The business’s revenue was up 66.4% on a year-over-year basis. Analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PRCT has been the subject of a number of research reports. TD Cowen lifted their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Bank of America raised their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

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).