PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock Position Raised by Enclave Advisors LLC

Enclave Advisors LLC lifted its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 5.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,568 shares of the company’s stock after buying an additional 1,499 shares during the quarter. Enclave Advisors LLC’s holdings in PROCEPT BioRobotics were worth $2,381,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PRCT. Values First Advisors Inc. acquired a new stake in PROCEPT BioRobotics in the third quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $64,000. Canton Hathaway LLC acquired a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $66,000. Nisa Investment Advisors LLC boosted its holdings in 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 purchasing an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in PROCEPT BioRobotics during the third quarter worth $120,000. Institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the transaction, the chief executive officer now owns 258,445 shares in the company, valued at $23,518,495. This trade represents a 52.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction on 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 directly owns 52,472 shares in the company, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 462,816 shares of company stock valued at $43,008,799 in the last 90 days. 17.40% of the stock is currently owned by company insiders.

PROCEPT BioRobotics Trading Down 8.2 %

Shares of PRCT opened at $69.75 on Wednesday. The stock’s 50-day moving average price is $88.09 and its 200 day moving average price is $79.18. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -35.77 and a beta of 1.05. PROCEPT BioRobotics Co. has a 12-month low of $44.51 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data 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. The business had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. PROCEPT BioRobotics’s quarterly revenue was up 66.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.51) earnings per share. As a group, research analysts predict 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).