PROCEPT BioRobotics Co. (NASDAQ:PRCT) is Taylor Frigon Capital Management LLC’s 2nd Largest Position

Taylor Frigon Capital Management LLC decreased its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 26.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 54,367 shares of the company’s stock after selling 19,923 shares during the period. PROCEPT BioRobotics comprises about 2.2% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 2nd largest holding. Taylor Frigon Capital Management LLC owned about 0.10% of PROCEPT BioRobotics worth $4,378,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. KRS Capital Management LLC boosted its position in shares of PROCEPT BioRobotics by 0.5% during the fourth quarter. KRS Capital Management LLC now owns 46,455 shares of the company’s stock valued at $3,741,000 after purchasing an additional 225 shares in the last quarter. KBC Group NV boosted its holdings in shares of PROCEPT BioRobotics by 32.6% during the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock valued at $123,000 after buying an additional 376 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth about $32,000. Nisa Investment Advisors LLC increased its stake 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 worth $89,000 after acquiring an additional 713 shares in the last quarter. Finally, IFP Advisors Inc purchased a new position in PROCEPT BioRobotics during the 4th quarter valued at about $58,000. Institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PRCT. Truist Financial reiterated a “buy” rating and set a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday. Morgan Stanley lowered their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.29.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $68.11 on Thursday. The business has a 50-day simple moving average of $75.25 and a two-hundred day simple moving average of $79.94. 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 firm has a market cap of $3.55 billion, a price-to-earnings ratio of -34.93 and a beta of 1.03. PROCEPT BioRobotics Co. has a fifty-two week low of $45.20 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued 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). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. On average, analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insider Activity

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 26,423 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the transaction, the executive vice president now owns 52,472 shares in the company, valued at $5,096,605.36. This represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

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).