FORA Capital LLC Sells 174 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

FORA Capital LLC lowered its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 1.0% in the third quarter, HoldingsChannel reports. The firm owned 16,929 shares of the company’s stock after selling 174 shares during the period. FORA Capital LLC’s holdings in PROCEPT BioRobotics were worth $1,356,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRCT. Values First Advisors Inc. bought a new position in PROCEPT BioRobotics during the third quarter worth about $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of PROCEPT BioRobotics during the second quarter worth approximately $36,000. Quest Partners LLC boosted its holdings in shares of PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after acquiring an additional 648 shares during the period. Canton Hathaway LLC bought a new stake in shares of PROCEPT BioRobotics during the third quarter worth approximately $66,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after acquiring an additional 713 shares during the period. Institutional investors own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCT has been the subject of a number of research analyst reports. Truist Financial restated a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Bank of America boosted their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Wells Fargo & Company boosted their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

PROCEPT BioRobotics Stock Down 2.0 %

NASDAQ PRCT opened at $97.29 on Thursday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 1-year low of $33.45 and a 1-year high of $103.81. The company has a 50 day moving average of $83.12 and a 200-day moving average of $73.12. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -49.89 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate 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 business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same period in the previous year, the business earned ($0.51) earnings per share. The company’s revenue was up 66.4% on a year-over-year basis. On average, equities research analysts expect that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $6,964,077.12. This represents a 20.64 % 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, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 52.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 561,773 shares of company stock worth $49,073,125 over the last three months. Corporate insiders own 17.40% of the company’s stock.

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).