Y Intercept Hong Kong Ltd Makes New $1.08 Million Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Y Intercept Hong Kong Ltd bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,489 shares of the company’s stock, valued at approximately $1,081,000.

Other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics during the 3rd quarter worth about $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in PROCEPT BioRobotics during the second quarter worth about $36,000. Quest Partners LLC lifted its position 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 purchasing an additional 648 shares in the last quarter. Canton Hathaway LLC purchased a new position in shares of PROCEPT BioRobotics in the third quarter valued at approximately $66,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after purchasing an additional 713 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $89.81 on Friday. The business has a 50 day moving average price of $86.71 and a 200 day moving average price of $75.31. 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 stock has a market cap of $4.69 billion, a price-to-earnings ratio of -46.06 and a beta of 1.00. PROCEPT BioRobotics Co. has a fifty-two week low of $39.22 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (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 analysts’ expectations of $53.30 million. During the same quarter in the prior year, the business posted ($0.51) EPS. The company’s revenue for the quarter was up 66.4% on a year-over-year basis. Equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics 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 transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $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 available through this link. Also, CEO Reza Zadno sold 26,423 shares of the company’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 sale, the chief executive officer now owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. This trade represents a 14.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 512,816 shares of company stock worth $46,883,299. Corporate insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PRCT. Piper Sandler reissued an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Truist Financial reissued a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Jefferies Financial Group started coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target on the stock. TD Cowen boosted 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. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.86.

About PROCEPT BioRobotics

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).