Blair William & Co. IL Purchases New Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Blair William & Co. IL purchased a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 429,793 shares of the company’s stock, valued at approximately $21,240,000.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its position in shares of PROCEPT BioRobotics by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 655,295 shares of the company’s stock valued at $21,500,000 after purchasing an additional 81,534 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth about $26,404,000. Vanguard Group Inc. raised its stake in shares of PROCEPT BioRobotics by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock valued at $133,697,000 after purchasing an additional 385,271 shares in the last quarter. Diversified Trust Co raised its stake in shares of PROCEPT BioRobotics by 10.3% in the 4th quarter. Diversified Trust Co now owns 10,717 shares of the company’s stock valued at $449,000 after purchasing an additional 1,004 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of PROCEPT BioRobotics by 254.7% during the fourth quarter. SG Americas Securities LLC now owns 11,873 shares of the company’s stock worth $498,000 after purchasing an additional 8,526 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Thomas M. Krummel sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director now owns 45,631 shares of the company’s stock, valued at approximately $2,737,860. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Thomas M. Krummel sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. Following the completion of the transaction, the director now owns 45,631 shares of the company’s stock, valued at $2,737,860. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hisham Shiblaq sold 26,046 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $68.24, for a total transaction of $1,777,379.04. Following the completion of the sale, the executive vice president now owns 55,860 shares in the company, valued at $3,811,886.40. The disclosure for this sale can be found here. Insiders have sold a total of 86,478 shares of company stock worth $5,515,482 in the last quarter. Corporate insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. TD Cowen boosted their target price on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Piper Sandler boosted their price objective on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Finally, Truist Financial raised their target price on shares of PROCEPT BioRobotics from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a buy rating, According to MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Buy” and an average price target of $62.60.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT traded up $0.72 during mid-day trading on Friday, hitting $67.47. 410,960 shares of the company’s stock traded hands, compared to its average volume of 553,942. The firm has a 50 day moving average of $65.07 and a two-hundred day moving average of $54.80. The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of -31.98 and a beta of 1.00. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $77.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.04. The business had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The firm’s quarterly revenue was up 82.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.63) earnings per share. On average, equities analysts forecast that PROCEPT BioRobotics Co. will post -1.93 earnings per share for the current fiscal year.

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).