Champlain Investment Partners LLC Reduces Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Champlain Investment Partners LLC lessened its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 52.4% during the 3rd quarter, Holdings Channel reports. The firm owned 650,293 shares of the company’s stock after selling 714,986 shares during the quarter. Champlain Investment Partners LLC’s holdings in PROCEPT BioRobotics were worth $52,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new stake in PROCEPT BioRobotics during the 3rd quarter worth approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at $36,000. Quest Partners LLC boosted its holdings in shares of PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after acquiring an additional 648 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after acquiring an additional 713 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $120,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PRCT. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Bank of America upped their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $93.60 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The company has a fifty day moving average of $82.41 and a two-hundred day moving average of $72.46. The stock has a market capitalization of $4.88 billion, a PE ratio of -48.00 and a beta of 1.01. PROCEPT BioRobotics Co. has a fifty-two week low of $33.45 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The company had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm’s revenue for the quarter was up 66.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) earnings per share. As a group, research analysts forecast that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 value of $1,811,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $6,964,077.12. This represents a 20.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Antal Rohit Desai sold 13,305 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares of the company’s stock, valued at $24,248,849.66. This trade represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 561,773 shares of company stock worth $49,073,125. Company insiders own 17.40% of the company’s stock.

About PROCEPT BioRobotics

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).