Arcadia Investment Management Corp MI Acquires Shares of 790 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Arcadia Investment Management Corp MI bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 790 shares of the company’s stock, valued at approximately $64,000.

Other institutional investors also recently modified their holdings of the company. Creative Planning raised its holdings in shares of PROCEPT BioRobotics by 88.9% in the 3rd quarter. Creative Planning now owns 9,948 shares of the company’s stock worth $797,000 after acquiring an additional 4,681 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of PROCEPT BioRobotics by 12,919.5% in the third quarter. International Assets Investment Management LLC now owns 52,078 shares of the company’s stock worth $4,172,000 after purchasing an additional 51,678 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of PROCEPT BioRobotics by 27.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,922 shares of the company’s stock valued at $474,000 after purchasing an additional 1,273 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of PROCEPT BioRobotics during the third quarter valued at approximately $27,000. Finally, Nisa Investment Advisors LLC grew its holdings in 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 buying an additional 713 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 52,472 shares in the company, valued at $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Reza Zadno sold 26,423 shares of the business’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 in the company, 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. In the last quarter, insiders have sold 80,935 shares of company stock valued at $7,882,089. 17.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

PROCEPT BioRobotics Stock Down 4.8 %

PRCT opened at $62.25 on Friday. PROCEPT BioRobotics Co. has a twelve month low of $45.20 and a twelve month high of $103.81. The company’s 50-day moving average price is $76.53 and its two-hundred day moving average price is $79.72. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -31.92 and a beta of 1.03. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

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).