EntryPoint Capital LLC Decreases Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

EntryPoint Capital LLC lessened its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 9.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,273 shares of the company’s stock after selling 577 shares during the period. EntryPoint Capital LLC’s holdings in PROCEPT BioRobotics were worth $425,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Perpetual Ltd acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter worth $66,972,000. Franklin Resources Inc. grew its position in PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after buying an additional 347,330 shares during the period. Vanguard Group Inc. increased its holdings in PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after buying an additional 297,075 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of PROCEPT BioRobotics by 218.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock valued at $33,350,000 after acquiring an additional 275,071 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of PROCEPT BioRobotics by 45.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after acquiring an additional 233,430 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $62.53 on Wednesday. The stock has a market capitalization of $3.43 billion, a P/E ratio of -32.07 and a beta of 1.05. PROCEPT BioRobotics Co. has a 12-month low of $45.56 and a 12-month high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The firm’s 50-day moving average is $66.71 and its two-hundred day moving average is $78.25.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. Equities analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on PRCT shares. Truist Financial reaffirmed a “buy” rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Morgan Stanley decreased their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.29.

Insider Activity

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics 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 completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock valued at $368,322 over the last quarter. Company insiders own 17.40% of the company’s stock.

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).