Headlands Technologies LLC Makes New Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Headlands Technologies LLC acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,757 shares of the company’s stock, valued at approximately $1,027,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC increased its stake in PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares during the last quarter. Naviter Wealth LLC grew its position in shares of PROCEPT BioRobotics by 6.0% in the 4th quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock valued at $249,000 after buying an additional 176 shares during the last quarter. Amundi raised its stake in PROCEPT BioRobotics by 0.9% during the 4th quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after acquiring an additional 183 shares in the last quarter. Arizona State Retirement System lifted its position in PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock valued at $1,150,000 after acquiring an additional 218 shares during the last quarter. Finally, KRS Capital Management LLC boosted its stake in PROCEPT BioRobotics by 0.5% in the fourth quarter. KRS Capital Management LLC now owns 46,455 shares of the company’s stock valued at $3,741,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PRCT shares. Morgan Stanley cut their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and issued a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PROCEPT BioRobotics has an average rating of “Moderate Buy” and a consensus price target of $94.29.

Insider Activity

In other news, CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock valued at $368,322 over the last quarter. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Up 1.1 %

PROCEPT BioRobotics stock opened at $57.74 on Thursday. The stock has a 50 day moving average of $64.52 and a two-hundred day moving average of $77.35. PROCEPT BioRobotics Co. has a twelve month low of $45.56 and a twelve month high of $103.81. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -29.61 and a beta of 1.05. 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 posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million during the quarter, compared to analysts’ expectations of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, research analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

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).