Bellevue Group AG Has $49.09 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Bellevue Group AG lessened its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 612,691 shares of the company’s stock after selling 56,358 shares during the quarter. Bellevue Group AG owned 1.17% of PROCEPT BioRobotics worth $49,089,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Westfield Capital Management Co. LP bought a new stake in PROCEPT BioRobotics in the third quarter valued at about $72,563,000. Charles Schwab Investment Management Inc. boosted its holdings in PROCEPT BioRobotics by 13.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company’s stock valued at $32,254,000 after purchasing an additional 46,665 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of PROCEPT BioRobotics by 25.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock valued at $21,344,000 after purchasing an additional 71,930 shares during the period. Chicago Capital LLC raised its holdings in shares of PROCEPT BioRobotics by 12.7% in the 3rd quarter. Chicago Capital LLC now owns 262,651 shares of the company’s stock worth $21,044,000 after buying an additional 29,668 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of PROCEPT BioRobotics by 788.9% during the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after buying an additional 162,785 shares during the period. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 34,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total value of $3,243,260.00. Following the sale, the director now directly owns 164,363 shares in the company, valued at $15,678,586.57. This trade represents a 17.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. This represents a 52.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 561,773 shares of company stock valued at $49,073,125. 17.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Truist Financial restated a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research 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. Finally, TD Cowen increased their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, PROCEPT BioRobotics presently has an average rating of “Moderate Buy” and an average price target of $89.50.

PROCEPT BioRobotics Stock Performance

PRCT stock opened at $95.59 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. PROCEPT BioRobotics Co. has a twelve month low of $36.15 and a twelve month high of $103.81. The business has a fifty day moving average of $83.90 and a 200-day moving average of $73.74.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (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 company had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same period in the prior year, the company posted ($0.51) EPS. The company’s revenue was up 66.4% compared to the same quarter last year. As a group, equities research analysts predict that PROCEPT BioRobotics Co. will post -1.73 earnings per share for the current fiscal 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).