Algert Global LLC Has $3.06 Million Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Algert Global LLC lifted its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 41.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,217 shares of the company’s stock after purchasing an additional 11,190 shares during the quarter. Algert Global LLC owned 0.07% of PROCEPT BioRobotics worth $3,062,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PRCT. Chicago Capital LLC purchased a new stake in shares of PROCEPT BioRobotics in the second quarter valued at $14,233,000. Federated Hermes Inc. lifted its stake in PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after acquiring an additional 162,785 shares in the last quarter. Transatlantique Private Wealth LLC acquired a new stake in PROCEPT BioRobotics during the 2nd quarter worth about $9,164,000. M&G Plc purchased a new position in PROCEPT BioRobotics during the 2nd quarter valued at about $8,507,000. Finally, Segall Bryant & Hamill LLC purchased a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $8,076,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 35,220 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the transaction, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. This trade represents a 59.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. This trade represents a 20.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 561,773 shares of company stock worth $49,073,125 over the last 90 days. Insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial restated a “buy” rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Bank of America lifted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. TD Cowen upped their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

PROCEPT BioRobotics Trading Up 1.5 %

Shares of NASDAQ:PRCT opened at $99.27 on Wednesday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $5.18 billion, a PE ratio of -50.91 and a beta of 1.01. PROCEPT BioRobotics Co. has a 1 year low of $33.45 and a 1 year high of $103.81. The firm has a fifty day moving average price of $82.73 and a 200 day moving average price of $72.86.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping 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 company had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the prior year, the company posted ($0.51) EPS. The firm’s revenue was up 66.4% on a year-over-year basis. Analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal 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).