Lyell Wealth Management LP Reduces Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Lyell Wealth Management LP reduced its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,930 shares of the company’s stock after selling 7,750 shares during the period. Lyell Wealth Management LP’s holdings in PROCEPT BioRobotics were worth $3,376,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Lord Abbett & CO. LLC increased its stake in shares of PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after purchasing an additional 233,430 shares in the last quarter. Perpetual Ltd purchased a new stake in PROCEPT BioRobotics in the fourth quarter worth approximately $66,972,000. Penserra Capital Management LLC purchased a new stake in PROCEPT BioRobotics in the third quarter worth approximately $2,308,000. Oak Ridge Investments LLC boosted its holdings in PROCEPT BioRobotics by 24.0% in the fourth quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock worth $2,420,000 after purchasing an additional 5,817 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in PROCEPT BioRobotics by 295.8% in the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company’s stock worth $531,000 after purchasing an additional 4,931 shares during the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Trading Down 1.0 %

NASDAQ PRCT opened at $66.92 on Wednesday. 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 company’s 50-day simple moving average is $78.51 and its two-hundred day simple moving average is $79.80. PROCEPT BioRobotics Co. has a one year low of $45.20 and a one year high of $103.81.

Insider Activity

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction 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. The trade was a 34.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Reza Zadno sold 26,423 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the completion of the transaction, the chief executive officer now owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. This represents a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,935 shares of company stock worth $7,882,089. Corporate insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

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

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).