PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Bought by RiverPark Advisors LLC

RiverPark Advisors LLC raised its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 44.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,192 shares of the company’s stock after purchasing an additional 981 shares during the period. RiverPark Advisors LLC’s holdings in PROCEPT BioRobotics were worth $256,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV boosted its stake in shares of PROCEPT BioRobotics by 32.6% in the third quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $123,000 after acquiring an additional 376 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of PROCEPT BioRobotics in the third quarter worth approximately $842,000. Los Angeles Capital Management LLC acquired a new stake in shares of PROCEPT BioRobotics in the third quarter worth approximately $367,000. Principal Financial Group Inc. boosted its stake in shares of PROCEPT BioRobotics by 290.2% in the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after acquiring an additional 51,030 shares during the last quarter. Finally, M&G PLC boosted its stake in shares of PROCEPT BioRobotics by 2.9% in the third quarter. M&G PLC now owns 143,565 shares of the company’s stock worth $11,485,000 after acquiring an additional 4,103 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Up 3.5 %

NASDAQ:PRCT opened at $88.94 on Friday. PROCEPT BioRobotics Co. has a 52 week low of $31.57 and a 52 week high of $103.81. 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 stock’s fifty day moving average is $80.97 and its two-hundred day moving average is $71.45.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The company’s revenue for the quarter was up 66.4% on a year-over-year basis. On average, equities research analysts predict that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Bank of America lifted their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. TD Cowen lifted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Wells Fargo & Company lifted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research report on Thursday. They set a “hold” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the sale, the chief executive officer now owns 258,445 shares in the company, valued at approximately $23,518,495. The trade was a 52.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai sold 34,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 164,363 shares in the company, valued at $15,678,586.57. This represents a 17.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 535,353 shares of company stock worth $46,627,426 over the last quarter. 17.40% of the stock is currently owned by company insiders.

PROCEPT BioRobotics 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).