139,462 Shares in PROCEPT BioRobotics Co. (NASDAQ:PRCT) Acquired by M&G Plc

M&G Plc acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 139,462 shares of the company’s stock, valued at approximately $8,507,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRCT. Fairman Group LLC bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $84,000. Jump Financial LLC acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at $201,000. Amalgamated Bank increased its stake in shares of PROCEPT BioRobotics by 5.8% in the 4th quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock valued at $243,000 after purchasing an additional 316 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in shares of PROCEPT BioRobotics during the 1st quarter worth $307,000. Finally, Contravisory Investment Management Inc. bought a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth $311,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Alaleh Nouri sold 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $62.18, for a total transaction of $621,800.00. Following the completion of the sale, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $3,262,708.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Alaleh Nouri sold 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $62.18, for a total value of $621,800.00. Following the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $3,262,708.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hisham Shiblaq sold 26,046 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $68.24, for a total transaction of $1,777,379.04. Following the sale, the executive vice president now owns 55,860 shares of the company’s stock, valued at approximately $3,811,886.40. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Sandler lifted their target price on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Wells Fargo & Company lifted their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. TD Cowen increased their price objective 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $74.00 target price (down previously from $79.00) on shares of PROCEPT BioRobotics in a research note on Friday, August 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $66.00.

PROCEPT BioRobotics Trading Up 2.0 %

Shares of PRCT stock traded up $1.27 during trading hours on Tuesday, hitting $64.60. 423,601 shares of the company were exchanged, compared to its average volume of 565,543. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.44 and a current ratio of 7.51. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $77.00. The company has a 50 day simple moving average of $63.95 and a two-hundred day simple moving average of $57.11. The firm has a market cap of $3.35 billion, a P/E ratio of -30.36 and a beta of 1.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.02. The business had revenue of $53.35 million for the quarter, compared to analyst estimates of $50.10 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The company’s quarterly revenue was up 61.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.56) earnings per share. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.88 EPS for the current year.

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).