Perpetual Ltd Purchases Shares of 831,739 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Perpetual Ltd purchased a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 831,739 shares of the company’s stock, valued at approximately $66,972,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics in the third quarter valued at about $64,000. Canton Hathaway LLC bought a new position in shares of PROCEPT BioRobotics in the third quarter worth about $66,000. Nisa Investment Advisors LLC boosted its stake in shares of PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after acquiring an additional 713 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in shares of PROCEPT BioRobotics during the third quarter worth about $120,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the completion of the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reza Zadno sold 26,420 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total value of $2,584,668.60. Following the transaction, the chief executive officer now owns 179,185 shares of the company’s stock, valued at $17,529,668.55. This trade represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 462,816 shares of company stock valued at $43,008,799. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Performance

PRCT stock opened at $76.02 on Tuesday. PROCEPT BioRobotics Co. has a 52 week low of $44.02 and a 52 week high of $103.81. The company has a fifty day simple moving average of $88.09 and a two-hundred day simple moving average of $79.18. 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 announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) 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 firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter last year, the firm earned ($0.51) EPS. The firm’s revenue for the quarter was up 66.4% compared to the same quarter last year. Research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRCT. Wells Fargo & Company restated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Morgan Stanley began coverage on shares of PROCEPT BioRobotics in a report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price target on the stock. Piper Sandler reissued an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.86.

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).